Short Interest in Abrdn Global Dynamic Dividend Fund (NYSE:AGD) Drops By 62.5%

Abrdn Global Dynamic Dividend Fund (NYSE:AGD) was the target of a significant drop in short interest during the month of December. As of December 31st, there was short interest totalling 27,300 shares, a drop of 62.5% from the December 15th total of 72,800 shares. Based on an average trading volume of 107,800 shares, the short-interest ratio is currently 0.3 days.

Abrdn Global Dynamic Dividend Fund Stock Up 0.2 %

AGD stock opened at $9.85 on Tuesday. The firm’s fifty day moving average is $10.07 and its 200 day moving average is $10.12. Abrdn Global Dynamic Dividend Fund has a 52 week low of $9.09 and a 52 week high of $10.68.

Abrdn Global Dynamic Dividend Fund Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 24th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, January 24th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 13.40%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. TD Private Client Wealth LLC bought a new stake in Abrdn Global Dynamic Dividend Fund during the 3rd quarter valued at $80,000. Stifel Financial Corp purchased a new position in shares of Abrdn Global Dynamic Dividend Fund in the third quarter valued at about $111,000. Rivernorth Capital Management LLC bought a new position in shares of Abrdn Global Dynamic Dividend Fund during the third quarter valued at about $119,000. Sanctuary Advisors LLC purchased a new stake in shares of Abrdn Global Dynamic Dividend Fund during the second quarter worth about $452,000. Finally, Commonwealth Equity Services LLC grew its stake 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 purchasing an additional 2,816 shares during the last quarter.

About Abrdn Global Dynamic Dividend Fund

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.