Abrdn Global Infrastructure Income Fund (NYSE:ASGI) Sees Significant Drop in Short Interest

Abrdn Global Infrastructure Income Fund (NYSE:ASGI) was the recipient of a significant decline in short interest during the month of July. As of July 15th, there was short interest totalling 48,300 shares, a decline of 35.5% from the June 30th total of 74,900 shares. Based on an average daily trading volume, of 111,100 shares, the days-to-cover ratio is currently 0.4 days.

Insiders Place Their Bets

In other news, major shareholder Saba Capital Management, L.P. bought 8,397 shares of the stock in a transaction on Monday, May 6th. The stock was acquired at an average price of $17.84 per share, with a total value of $149,802.48. Following the acquisition, the insider now directly owns 2,913,572 shares in the company, valued at $51,978,124.48. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last quarter, insiders have purchased 43,718 shares of company stock valued at $767,233.

Institutional Investors Weigh In On Abrdn Global Infrastructure Income Fund

Several institutional investors and hedge funds have recently made changes to their positions in ASGI. Raymond James Financial Services Advisors Inc. boosted its stake in Abrdn Global Infrastructure Income Fund by 3.1% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 21,129 shares of the company’s stock worth $379,000 after acquiring an additional 638 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of Abrdn Global Infrastructure Income Fund during the 4th quarter worth about $211,000. Allspring Global Investments Holdings LLC grew its stake in shares of Abrdn Global Infrastructure Income Fund by 10.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 969,831 shares of the company’s stock valued at $17,399,000 after buying an additional 91,710 shares during the period. Private Management Group Inc. increased its position in Abrdn Global Infrastructure Income Fund by 196.4% in the 4th quarter. Private Management Group Inc. now owns 61,474 shares of the company’s stock valued at $1,103,000 after buying an additional 40,731 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its stake in Abrdn Global Infrastructure Income Fund by 12.7% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 64,382 shares of the company’s stock worth $1,155,000 after buying an additional 7,231 shares during the period.

Abrdn Global Infrastructure Income Fund Stock Performance

ASGI stock traded up $0.13 during trading on Monday, hitting $18.44. The company had a trading volume of 146,118 shares, compared to its average volume of 95,732. Abrdn Global Infrastructure Income Fund has a one year low of $14.96 and a one year high of $19.56. The business has a 50-day moving average of $18.72 and a 200-day moving average of $17.98.

Abrdn Global Infrastructure Income Fund Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 24th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, July 24th. This represents a $2.40 dividend on an annualized basis and a yield of 13.02%.

Abrdn Global Infrastructure Income Fund Company Profile

Aberdeen Standard Global Infrastructure Income Fund seeks to provide a high level of total return with an emphasis on current income by investing in assets that provide necessary services to society.

The Fund seeks to achieve its investment objective by investing in a portfolio of income-producing public and private
infrastructure equity investments from around the world.