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

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

Abrdn Global Dynamic Dividend Fund Price Performance

Shares of AGD stock opened at $9.85 on Tuesday. Abrdn Global Dynamic Dividend Fund has a 1 year low of $9.09 and a 1 year high of $10.68. The company’s fifty day simple moving average is $10.07 and its two-hundred day simple moving average is $10.12.

Abrdn Global Dynamic Dividend Fund Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 24th will be given a $0.11 dividend. 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 Trading of Abrdn Global Dynamic Dividend Fund

Several institutional investors and hedge funds have recently bought and sold shares of the company. Pathstone Holdings LLC grew its stake in Abrdn Global Dynamic Dividend Fund by 28.5% in the 3rd quarter. Pathstone Holdings LLC now owns 408,798 shares of the company’s stock worth $4,343,000 after buying an additional 90,780 shares in the last quarter. Cornerstone Advisors LLC grew its position in Abrdn Global Dynamic Dividend Fund by 417.8% in the second quarter. Cornerstone Advisors LLC now owns 70,067 shares of the company’s stock worth $684,000 after acquiring an additional 56,536 shares in the last quarter. Sanctuary Advisors LLC bought a new position in Abrdn Global Dynamic Dividend Fund in the second quarter valued at $452,000. Rivernorth Capital Management LLC purchased a new stake in Abrdn Global Dynamic Dividend Fund during the third quarter valued at about $119,000. Finally, Stifel Financial Corp bought a new stake in Abrdn Global Dynamic Dividend Fund during the third quarter worth about $111,000.

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.