Short Interest in Abrdn Global Dynamic Dividend Fund (NYSE:AGD) Increases By 237.3%

Abrdn Global Dynamic Dividend Fund (NYSE:AGD) was the target of a large growth in short interest during the month of August. As of August 31st, there was short interest totaling 90,562 shares, a growth of 237.3% from the August 15th total of 26,853 shares. Based on an average trading volume of 82,181 shares, the short-interest ratio is currently 1.1 days.

Abrdn Global Dynamic Dividend Fund Stock Up 1.1%

Shares of NYSE:AGD traded up $0.13 during midday trading on Friday, reaching $11.95. The company’s stock had a trading volume of 58,844 shares, compared to its average volume of 114,427. The stock has a fifty day moving average of $12.20 and a 200 day moving average of $12.09. Abrdn Global Dynamic Dividend Fund has a twelve month low of $10.41 and a twelve month high of $13.98.

Abrdn Global Dynamic Dividend Fund Announces Dividend

The business also recently declared a monthly dividend, which was paid on Monday, August 31st. Shareholders of record on Monday, August 24th were given a dividend of $0.12 per share. This represents a c) annualized dividend and a yield of 12.1%. The ex-dividend date of this dividend was Monday, August 24th.

Hedge Funds Weigh In On Abrdn Global Dynamic Dividend Fund

Several institutional investors and hedge funds have recently modified their holdings of the stock. Bank of America Corp DE raised its position in Abrdn Global Dynamic Dividend Fund by 5.4% during the third quarter. Bank of America Corp DE now owns 573,938 shares of the company’s stock valued at $7,645,000 after acquiring an additional 29,637 shares in the last quarter. Raymond James Financial Inc. grew its stake in shares of Abrdn Global Dynamic Dividend Fund by 25.9% during the 3rd quarter. Raymond James Financial Inc. now owns 469,543 shares of the company’s stock worth $6,254,000 after purchasing an additional 96,521 shares during the period. Hennion & Walsh Asset Management Inc. increased its holdings in shares of Abrdn Global Dynamic Dividend Fund by 1.2% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 310,171 shares of the company’s stock valued at $3,756,000 after purchasing an additional 3,715 shares in the last quarter. LPL Financial LLC increased its holdings in shares of Abrdn Global Dynamic Dividend Fund by 42.5% during the 4th quarter. LPL Financial LLC now owns 252,989 shares of the company’s stock valued at $2,950,000 after purchasing an additional 75,502 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its stake in shares of Abrdn Global Dynamic Dividend Fund by 32.8% in the 4th quarter. Wells Fargo & Company MN now owns 207,574 shares of the company’s stock valued at $2,420,000 after purchasing an additional 51,275 shares during the period.

Abrdn Global Dynamic Dividend Fund Company Profile

Abrdn Global Dynamic Dividend Fund (NYSE: AGD) is a closed-end investment company that seeks to deliver a high level of current income along with the potential for capital appreciation. Managed by abrdn Investment Management Limited, the fund employs an active, research-driven approach to build a diversified portfolio of equity securities issued by companies around the world that demonstrate sustainable dividend payment histories.

The fund’s investment strategy combines top-down macroeconomic insights with bottom-up company analysis.