First Trust/Abrdn Global Opportunity Income Fund (NYSE:FAM) Stock Price Passes Below 50-Day Moving Average of $6.40

First Trust/Abrdn Global Opportunity Income Fund (NYSE:FAM)’s share price passed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $6.40 and traded as low as $6.29. First Trust/Abrdn Global Opportunity Income Fund shares last traded at $6.35, with a volume of 60,751 shares.

First Trust/Abrdn Global Opportunity Income Fund Stock Performance

The stock’s fifty day moving average is $6.40 and its 200-day moving average is $6.36.

First Trust/Abrdn Global Opportunity Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be paid a dividend of $0.06 per share. This represents a $0.72 annualized dividend and a yield of 11.36%. The ex-dividend date of this dividend is Monday, July 1st.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Karpus Management Inc. lifted its holdings in shares of First Trust/Abrdn Global Opportunity Income Fund by 7.3% in the fourth quarter. Karpus Management Inc. now owns 1,452,564 shares of the financial services provider’s stock valued at $9,137,000 after purchasing an additional 99,148 shares in the last quarter. Cetera Advisors LLC boosted its position in First Trust/Abrdn Global Opportunity Income Fund by 170.3% during the 1st quarter. Cetera Advisors LLC now owns 43,250 shares of the financial services provider’s stock worth $285,000 after acquiring an additional 27,251 shares during the last quarter. ORG Partners LLC bought a new position in shares of First Trust/Abrdn Global Opportunity Income Fund during the 1st quarter worth approximately $140,000. Raymond James & Associates raised its holdings in First Trust/Abrdn Global Opportunity Income Fund by 28.3% during the fourth quarter. Raymond James & Associates now owns 55,334 shares of the financial services provider’s stock worth $348,000 after acquiring an additional 12,215 shares in the last quarter. Finally, Founders Financial Alliance LLC boosted its position in First Trust/Abrdn Global Opportunity Income Fund by 18.6% during the fourth quarter. Founders Financial Alliance LLC now owns 18,334 shares of the financial services provider’s stock valued at $115,000 after purchasing an additional 2,881 shares during the last quarter.

About First Trust/Abrdn Global Opportunity Income Fund

First Trust/Abrdn Global Opportunity Income Fund is a closed-ended fixed income mutual fund launched and managed by First Trust Advisors L.P. It is co-managed by Aberdeen Asset Management Inc The fund invests in the fixed income markets across the globe. It primarily invests in investment grade and below-investment grade government and corporate debt securities.