Abrdn Global Dynamic Dividend Fund (NYSE:AGD) Short Interest Down 5.8% in July

Abrdn Global Dynamic Dividend Fund (NYSE:AGD) saw a significant drop in short interest in July. As of July 31st, there was short interest totalling 13,100 shares, a drop of 5.8% from the July 15th total of 13,900 shares. Based on an average daily volume of 67,100 shares, the days-to-cover ratio is currently 0.2 days.

Abrdn Global Dynamic Dividend Fund Stock Performance

NYSE AGD opened at $10.28 on Monday. The company has a fifty day moving average of $9.83 and a two-hundred day moving average of $9.62. Abrdn Global Dynamic Dividend Fund has a 1 year low of $8.20 and a 1 year high of $10.30.

Abrdn Global Dynamic Dividend Fund Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 23rd will be issued a $0.11 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 12.84%. This is a boost from Abrdn Global Dynamic Dividend Fund’s previous monthly dividend of $0.07. The ex-dividend date of this dividend is Friday, August 23rd.

Hedge Funds Weigh In On Abrdn Global Dynamic Dividend Fund

Several institutional investors have recently added to or reduced their stakes in the stock. Novak & Powell Financial Services Inc. purchased a new position in shares of Abrdn Global Dynamic Dividend Fund in the 4th quarter valued at approximately $103,000. Brookstone Capital Management acquired a new position in shares of Abrdn Global Dynamic Dividend Fund during the second quarter worth about $186,000. Quantedge Capital Pte Ltd raised its holdings in Abrdn Global Dynamic Dividend Fund by 64.4% during the fourth quarter. Quantedge Capital Pte Ltd now owns 35,500 shares of the company’s stock worth $332,000 after purchasing an additional 13,900 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in Abrdn Global Dynamic Dividend Fund in the fourth quarter valued at about $412,000. Finally, Cornerstone Advisors LLC boosted its holdings in Abrdn Global Dynamic Dividend Fund by 54.0% in the 4th quarter. Cornerstone Advisors LLC now owns 61,928 shares of the company’s stock valued at $578,000 after purchasing an additional 21,712 shares in the last quarter.

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.