Abrdn Global Dynamic Dividend Fund (NYSE:AGD) Sees Significant Increase in Short Interest

Abrdn Global Dynamic Dividend Fund (NYSE:AGD) was the target of a significant growth in short interest in the month of May. As of May 31st, there was short interest totalling 199,900 shares, a growth of 36.1% from the May 15th total of 146,900 shares. Based on an average daily trading volume, of 121,100 shares, the short-interest ratio is presently 1.7 days.

Institutional Trading of Abrdn Global Dynamic Dividend Fund

Several institutional investors and hedge funds have recently modified their holdings of the business. Almitas Capital LLC purchased a new stake in Abrdn Global Dynamic Dividend Fund during the 4th quarter worth about $266,000. Quarry LP acquired a new stake in Abrdn Global Dynamic Dividend Fund during the fourth quarter worth approximately $738,000. Wells Fargo & Company MN grew its stake in Abrdn Global Dynamic Dividend Fund by 156.8% in the 4th quarter. Wells Fargo & Company MN now owns 366,562 shares of the company’s stock worth $3,592,000 after acquiring an additional 223,821 shares during the period. Guggenheim Capital LLC boosted its holdings in shares of Abrdn Global Dynamic Dividend Fund by 4.3% during the fourth quarter. Guggenheim Capital LLC now owns 363,456 shares of the company’s stock worth $3,562,000 after purchasing an additional 15,141 shares during the last quarter. Finally, LPL Financial LLC grew its position in shares of Abrdn Global Dynamic Dividend Fund by 0.9% in the fourth quarter. LPL Financial LLC now owns 168,102 shares of the company’s stock valued at $1,647,000 after purchasing an additional 1,481 shares during the period.

Abrdn Global Dynamic Dividend Fund Stock Performance

NYSE:AGD traded up $0.01 during midday trading on Tuesday, reaching $10.65. The stock had a trading volume of 117,229 shares, compared to its average volume of 103,969. Abrdn Global Dynamic Dividend Fund has a 12-month low of $8.46 and a 12-month high of $10.70. The firm has a fifty day simple moving average of $10.04 and a two-hundred day simple moving average of $10.06.

Abrdn Global Dynamic Dividend Fund Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 23rd will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Monday, June 23rd. This is a boost from Abrdn Global Dynamic Dividend Fund’s previous monthly dividend of $0.10. This represents a $1.32 annualized dividend and a yield of 12.39%.

Abrdn Global Dynamic Dividend Fund Company Profile

Abrdn Global Dynamic Dividend Fund is a closed ended equity mutual fund launched and managed by Alpine Woods Capital Investors, LLC. It invests in the public equity markets across the globe. The fund invests in stocks of companies operating across diversified sectors. It invests in growth and value stocks of companies across all market capitalizations.