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

Abrdn Global Infrastructure Income Fund (NYSE:ASGI) saw a significant growth in short interest in the month of February. As of February 15th, there was short interest totalling 49,900 shares, a growth of 82.1% from the January 31st total of 27,400 shares. Based on an average daily trading volume, of 189,300 shares, the days-to-cover ratio is presently 0.3 days.

Abrdn Global Infrastructure Income Fund Price Performance

Shares of Abrdn Global Infrastructure Income Fund stock traded up $0.06 on Friday, reaching $18.02. 133,834 shares of the company’s stock were exchanged, compared to its average volume of 133,276. Abrdn Global Infrastructure Income Fund has a 52 week low of $16.58 and a 52 week high of $20.35. The firm’s 50-day moving average is $17.82 and its two-hundred day moving average is $18.96.

Abrdn Global Infrastructure Income Fund Cuts Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 21st were issued a dividend of $0.19 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 12.66%. The ex-dividend date was Friday, February 21st.

Insider Activity

In other Abrdn Global Infrastructure Income Fund news, Director Thomas W. Hunersen purchased 5,000 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were purchased at an average cost of $17.67 per share, for a total transaction of $88,350.00. Following the acquisition, the director now owns 6,000 shares of the company’s stock, valued at approximately $106,020. This represents a 500.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Saba Capital Management, L.P. sold 20,860 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $19.68, for a total value of $410,524.80. Following the transaction, the insider now owns 2,702,703 shares in the company, valued at $53,189,195.04. The trade was a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 65,949 shares of company stock valued at $1,303,541 over the last quarter.

Hedge Funds Weigh In On Abrdn Global Infrastructure Income Fund

A number of institutional investors have recently modified their holdings of ASGI. Penserra Capital Management LLC acquired a new position in shares of Abrdn Global Infrastructure Income Fund during the third quarter worth approximately $14,453,000. International Assets Investment Management LLC acquired a new position in shares of Abrdn Global Infrastructure Income Fund during the third quarter worth approximately $5,175,000. Raymond James Financial Inc. acquired a new position in shares of Abrdn Global Infrastructure Income Fund during the fourth quarter worth approximately $1,635,000. Comerica Bank raised its position in shares of Abrdn Global Infrastructure Income Fund by 6,884.0% during the fourth quarter. Comerica Bank now owns 56,710 shares of the company’s stock worth $994,000 after purchasing an additional 55,898 shares during the period. Finally, Shaker Financial Services LLC acquired a new position in shares of Abrdn Global Infrastructure Income Fund during the fourth quarter worth approximately $748,000.

About Abrdn Global Infrastructure Income Fund

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.