Abrdn Global Infrastructure Income Fund (NYSE:ASGI) Shares Shorted: Short Interest Down 95.1% in October

Abrdn Global Infrastructure Income Fund (NYSE:ASGI) was the target of a significant decrease in short interest during the month of October. As of October 30th, there was short interest totaling 55,305 shares, a decrease of 95.1% from the October 15th total of 1,120,519 shares. Based on an average trading volume of 240,574 shares, the days-to-cover ratio is currently 0.2 days.

Hedge Funds Weigh In On Abrdn Global Infrastructure Income Fund

A number of large investors have recently modified their holdings of the company. Ascentis Independent Advisors bought a new position in Abrdn Global Infrastructure Income Fund during the first quarter valued at approximately $41,000. Allworth Financial LP lifted its stake in Abrdn Global Infrastructure Income Fund by 44.3% in the third quarter. Allworth Financial LP now owns 2,164 shares of the company’s stock worth $42,000 after acquiring an additional 664 shares during the period. Wedbush Securities Inc. purchased a new stake in shares of Abrdn Global Infrastructure Income Fund in the 2nd quarter worth about $223,000. FAS Wealth Partners Inc. purchased a new stake in shares of Abrdn Global Infrastructure Income Fund in the 1st quarter worth about $231,000. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its stake in shares of Abrdn Global Infrastructure Income Fund by 13.5% during the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 13,227 shares of the company’s stock valued at $308,000 after purchasing an additional 1,573 shares in the last quarter.

Abrdn Global Infrastructure Income Fund Trading Down 0.1%

NYSE ASGI traded down $0.02 during trading hours on Thursday, reaching $20.88. 186,777 shares of the stock traded hands, compared to its average volume of 215,576. The stock has a 50 day simple moving average of $20.08 and a two-hundred day simple moving average of $22.74. Abrdn Global Infrastructure Income Fund has a 1 year low of $18.90 and a 1 year high of $25.95.

Abrdn Global Infrastructure Income Fund Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Friday, November 20th will be given a dividend of $0.21 per share. This is a drop from Abrdn Global Infrastructure Income Fund’s previous monthly dividend of $0.22. The ex-dividend date is Friday, November 20th. This represents a $2.52 annualized dividend and a dividend yield of 12.1%.

About Abrdn Global Infrastructure Income Fund

Abrdn Global Infrastructure Income Fund (NYSE: ASGI) is a closed-end investment fund managed by abrdn Inc. The fund seeks to provide investors with a high level of current income and the opportunity for capital appreciation by investing in infrastructure-related assets and companies. ASGI invests globally across infrastructure sectors, including utilities, energy, transportation, communications and other essential services. Its portfolio may include common and preferred stocks, debt securities and other income-producing investments issued by companies involved in developing, owning or operating infrastructure assets.