Short Interest in Abrdn Global Infrastructure Income Fund (NYSE:ASGI) Expands By 12.3%

Abrdn Global Infrastructure Income Fund (NYSE:ASGI) saw a large increase in short interest in the month of September. As of September 15th, there was short interest totalling 318,300 shares, an increase of 12.3% from the August 31st total of 283,400 shares. Based on an average trading volume of 144,700 shares, the days-to-cover ratio is presently 2.2 days.

Insiders Place Their Bets

In other news, major shareholder Saba Capital Management, L.P. bought 41,344 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The shares were purchased at an average price of $19.32 per share, for a total transaction of $798,766.08. Following the completion of the transaction, the insider now directly owns 2,957,749 shares in the company, valued at $57,143,710.68. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Creekmur Asset Management LLC purchased a new position in shares of Abrdn Global Infrastructure Income Fund during the 4th quarter valued at approximately $34,000. Eagle Bay Advisors LLC acquired a new position in shares of Abrdn Global Infrastructure Income Fund during the 1st quarter worth about $35,000. Whittier Trust Co. purchased a new position in Abrdn Global Infrastructure Income Fund in the 1st quarter valued at about $133,000. Commonwealth Equity Services LLC boosted its holdings in Abrdn Global Infrastructure Income Fund by 16.0% in the 2nd quarter. Commonwealth Equity Services LLC now owns 19,581 shares of the company’s stock worth $358,000 after buying an additional 2,706 shares during the last quarter. Finally, Quarry LP increased its stake in Abrdn Global Infrastructure Income Fund by 13.7% during the 2nd quarter. Quarry LP now owns 21,559 shares of the company’s stock worth $395,000 after buying an additional 2,593 shares in the last quarter.

Abrdn Global Infrastructure Income Fund Price Performance

ASGI traded down $0.08 during midday trading on Tuesday, hitting $20.13. 63,686 shares of the company were exchanged, compared to its average volume of 102,097. The company’s 50 day simple moving average is $19.32 and its 200 day simple moving average is $18.59. Abrdn Global Infrastructure Income Fund has a 1-year low of $14.96 and a 1-year high of $20.35.

Abrdn Global Infrastructure Income Fund Increases Dividend

The company also recently declared a monthly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 20th were given a dividend of $0.21 per share. This represents a $2.52 annualized dividend and a yield of 12.52%. The ex-dividend date was Friday, September 20th. This is a positive change from Abrdn Global Infrastructure Income Fund’s previous monthly dividend of $0.20.

About Abrdn Global Infrastructure Income Fund

Aberdeen Standard Global Infrastructure Income Fund seeks to provide a high level of total return with an emphasis on current income by investing in assets that provide necessary services to society.

The Fund seeks to achieve its investment objective by investing in a portfolio of income-producing public and private
infrastructure equity investments from around the world.