abrdn National Municipal Income Fund (NYSE:VFL) Shares Down 0.6% – What’s Next?

Shares of abrdn National Municipal Income Fund (NYSE:VFL) fell 0.6% during mid-day trading on Friday . The stock traded as low as $10.30 and last traded at $10.31. 29,736 shares were traded during mid-day trading, a decline of 13% from the average session volume of 34,027 shares. The stock had previously closed at $10.37.

abrdn National Municipal Income Fund Trading Down 0.6%

The stock has a 50-day moving average of $10.24 and a 200 day moving average of $10.22.

abrdn National Municipal Income Fund Cuts Dividend

The firm also recently announced a monthly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Monday, June 29th were paid a dividend of $0.024 per share. This represents a c) dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Monday, June 29th.

Hedge Funds Weigh In On abrdn National Municipal Income Fund

Several institutional investors have recently added to or reduced their stakes in the stock. Hennion & Walsh Asset Management Inc. raised its position in abrdn National Municipal Income Fund by 104.4% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 241,251 shares of the company’s stock worth $2,478,000 after acquiring an additional 123,244 shares during the period. Pathstone Holdings LLC raised its holdings in shares of abrdn National Municipal Income Fund by 24.9% in the 3rd quarter. Pathstone Holdings LLC now owns 224,322 shares of the company’s stock worth $2,302,000 after purchasing an additional 44,665 shares during the period. Rivernorth Capital Management LLC lifted its stake in abrdn National Municipal Income Fund by 20.8% in the first quarter. Rivernorth Capital Management LLC now owns 215,995 shares of the company’s stock valued at $2,151,000 after purchasing an additional 37,141 shares during the last quarter. Riverbridge Partners LLC lifted its stake in abrdn National Municipal Income Fund by 10.8% in the first quarter. Riverbridge Partners LLC now owns 194,085 shares of the company’s stock valued at $1,933,000 after purchasing an additional 18,933 shares during the last quarter. Finally, Matisse Capital grew its holdings in abrdn National Municipal Income Fund by 2.8% during the fourth quarter. Matisse Capital now owns 174,693 shares of the company’s stock valued at $1,794,000 after purchasing an additional 4,693 shares during the period.

About abrdn National Municipal Income Fund

abrdn National Municipal Income Fund (NYSE: VFL) is a diversified, closed-end management investment company that seeks to provide shareholders with a high level of current income exempt from federal income taxes. The fund primarily invests in a portfolio of municipal securities, including general obligation bonds, revenue bonds and other debt obligations issued by state and local governments across the United States.

The fund’s investment strategy emphasizes a combination of bottom-up credit research and sector allocation to build a tax-exempt portfolio.