First Trust/Abrdn Global Opportunity Income Fund (NYSE:FAM) Sees Significant Decline in Short Interest

First Trust/Abrdn Global Opportunity Income Fund (NYSE:FAM) was the recipient of a large decline in short interest during the month of June. As of June 15th, there was short interest totalling 49,200 shares, a decline of 9.4% from the May 31st total of 54,300 shares. Based on an average daily trading volume, of 21,500 shares, the short-interest ratio is currently 2.3 days.

First Trust/Abrdn Global Opportunity Income Fund Stock Up 0.2 %

Shares of NYSE:FAM traded up $0.01 during trading on Wednesday, reaching $6.29. The company’s stock had a trading volume of 7,553 shares, compared to its average volume of 27,008. First Trust/Abrdn Global Opportunity Income Fund has a 12 month low of $5.38 and a 12 month high of $6.67. The firm’s 50 day simple moving average is $6.39 and its two-hundred day simple moving average is $6.37.

First Trust/Abrdn Global Opportunity Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be given a dividend of $0.06 per share. This represents a $0.72 annualized dividend and a dividend yield of 11.45%. The ex-dividend date is Monday, July 1st.

Institutional Trading of First Trust/Abrdn Global Opportunity Income Fund

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