Abrdn Global Dynamic Dividend Fund (NYSE:AGD) Share Price Passes Below 50-Day Moving Average – Here’s Why

Abrdn Global Dynamic Dividend Fund (NYSE:AGD) crossed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $10.34 and traded as low as $10.15. Abrdn Global Dynamic Dividend Fund shares last traded at $10.19, with a volume of 109,578 shares traded.

Abrdn Global Dynamic Dividend Fund Price Performance

The firm’s 50-day moving average is $10.34 and its 200-day moving average is $9.96.

Abrdn Global Dynamic Dividend Fund Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Thursday, October 31st. Stockholders of record on Thursday, October 24th were given a dividend of $0.12 per share. The ex-dividend date was Thursday, October 24th. This represents a $1.44 annualized dividend and a dividend yield of 14.14%.

Institutional Trading of Abrdn Global Dynamic Dividend Fund

A number of hedge funds have recently bought and sold shares of AGD. Brookstone Capital Management bought a new stake in Abrdn Global Dynamic Dividend Fund in the second quarter worth $186,000. Commonwealth Equity Services LLC increased its holdings in shares of Abrdn Global Dynamic Dividend Fund by 4.3% in the second quarter. Commonwealth Equity Services LLC now owns 68,605 shares of the company’s stock worth $670,000 after buying an additional 2,816 shares during the period. Cornerstone Advisors LLC increased its holdings in shares of Abrdn Global Dynamic Dividend Fund by 417.8% in the second quarter. Cornerstone Advisors LLC now owns 70,067 shares of the company’s stock worth $684,000 after buying an additional 56,536 shares during the period. Logan Stone Capital LLC lifted its stake in shares of Abrdn Global Dynamic Dividend Fund by 7.2% in the 2nd quarter. Logan Stone Capital LLC now owns 106,092 shares of the company’s stock valued at $1,035,000 after acquiring an additional 7,092 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in Abrdn Global Dynamic Dividend Fund during the 2nd quarter valued at about $452,000.

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.