Abrdn Global Dynamic Dividend Fund (NYSE:AGD) Sees Large Increase in Short Interest

Abrdn Global Dynamic Dividend Fund (NYSE:AGD) was the target of a significant increase in short interest in July. As of July 15th, there was short interest totaling 260,800 shares, an increase of 104.9% from the June 30th total of 127,307 shares. Based on an average daily trading volume, of 105,811 shares, the days-to-cover ratio is presently 2.5 days.

Abrdn Global Dynamic Dividend Fund Stock Performance

Shares of AGD traded up $0.17 on Thursday, hitting $12.12. 133,217 shares of the stock traded hands, compared to its average volume of 120,901. The stock’s 50 day moving average is $12.20 and its two-hundred day moving average is $12.12. Abrdn Global Dynamic Dividend Fund has a 1 year low of $10.41 and a 1 year high of $13.98.

Abrdn Global Dynamic Dividend Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, July 31st. Shareholders of record on Thursday, July 23rd will be paid a dividend of $0.12 per share. This represents a c) dividend on an annualized basis and a dividend yield of 11.9%. The ex-dividend date of this dividend is Thursday, July 23rd.

Institutional Investors Weigh In On Abrdn Global Dynamic Dividend Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Hennion & Walsh Asset Management Inc. lifted its position in Abrdn Global Dynamic Dividend Fund by 1.2% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 310,171 shares of the company’s stock worth $3,756,000 after buying an additional 3,715 shares during the period. CoreCap Advisors LLC increased its stake in shares of Abrdn Global Dynamic Dividend Fund by 115.5% during the 2nd quarter. CoreCap Advisors LLC now owns 20,417 shares of the company’s stock valued at $247,000 after acquiring an additional 10,942 shares during the last quarter. Axiom Investment Management LLC purchased a new position in shares of Abrdn Global Dynamic Dividend Fund during the 1st quarter worth about $36,000. Royal Bank of Canada lifted its holdings in shares of Abrdn Global Dynamic Dividend Fund by 21.4% during the 1st quarter. Royal Bank of Canada now owns 183,901 shares of the company’s stock worth $1,986,000 after acquiring an additional 32,424 shares during the period. Finally, International Assets Investment Management LLC lifted its holdings in shares of Abrdn Global Dynamic Dividend Fund by 32.2% during the 1st quarter. International Assets Investment Management LLC now owns 187,227 shares of the company’s stock worth $2,059,000 after acquiring an additional 45,632 shares during the period.

Abrdn Global Dynamic Dividend Fund Company Profile

Abrdn Global Dynamic Dividend Fund (NYSE: AGD) is a closed-end investment company that seeks to deliver a high level of current income along with the potential for capital appreciation. Managed by abrdn Investment Management Limited, the fund employs an active, research-driven approach to build a diversified portfolio of equity securities issued by companies around the world that demonstrate sustainable dividend payment histories.

The fund’s investment strategy combines top-down macroeconomic insights with bottom-up company analysis.