abrdn Global Income Fund, Inc. (NYSEAMERICAN:FCO) Sees Large Increase in Short Interest

abrdn Global Income Fund, Inc. (NYSEAMERICAN:FCO) was the target of a significant growth in short interest during the month of January. As of January 15th, there was short interest totaling 253,039 shares, a growth of 47.4% from the December 31st total of 171,657 shares. Based on an average daily volume of 105,431 shares, the short-interest ratio is presently 2.4 days. Currently, 2.3% of the company’s stock are sold short. Currently, 2.3% of the company’s stock are sold short. Based on an average daily volume of 105,431 shares, the short-interest ratio is presently 2.4 days.

Institutional Trading of abrdn Global Income Fund

Several institutional investors have recently added to or reduced their stakes in the business. Susquehanna International Group LLP lifted its position in shares of abrdn Global Income Fund by 167.1% in the 3rd quarter. Susquehanna International Group LLP now owns 53,629 shares of the company’s stock worth $160,000 after buying an additional 33,547 shares during the last quarter. Envestnet Asset Management Inc. acquired a new stake in abrdn Global Income Fund during the second quarter worth about $118,000. Landscape Capital Management L.L.C. bought a new position in abrdn Global Income Fund in the third quarter worth about $47,000. Virtu Financial LLC acquired a new position in abrdn Global Income Fund in the third quarter valued at approximately $36,000. Finally, Oppenheimer & Co. Inc. boosted its stake in abrdn Global Income Fund by 10.6% in the third quarter. Oppenheimer & Co. Inc. now owns 123,036 shares of the company’s stock valued at $367,000 after acquiring an additional 11,819 shares during the period. Institutional investors own 10.79% of the company’s stock.

abrdn Global Income Fund Price Performance

Shares of abrdn Global Income Fund stock opened at $3.19 on Tuesday. The business has a 50-day moving average price of $2.97 and a 200 day moving average price of $4.00. abrdn Global Income Fund has a fifty-two week low of $2.73 and a fifty-two week high of $6.77.

abrdn Global Income Fund Announces Dividend

The company also recently declared a monthly dividend, which was paid on Friday, January 30th. Investors of record on Friday, January 23rd were given a dividend of $0.07 per share. This represents a c) annualized dividend and a dividend yield of 26.3%. The ex-dividend date of this dividend was Friday, January 23rd.

About abrdn Global Income Fund

abrdn Global Income Fund (NYSE American: FCO) is a closed-end management investment company that seeks to provide investors with high current income and the potential for capital appreciation. Managed by abrdn’s global investment team, the fund pursues a diversified strategy across both fixed-income and equity markets. It is structured to deliver monthly distributions by combining income-generating securities with active portfolio management and selective use of leverage.

The fund’s core holdings typically include a broad range of global corporate bonds, convertible securities, preferred stocks and high-yield credit.