First Trust/Abrdn Global Opportunity Income Fund (NYSE:FAM) Shares Pass Above Fifty Day Moving Average – Here’s Why

First Trust/Abrdn Global Opportunity Income Fund (NYSE:FAM)’s share price passed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $6.48 and traded as high as $6.59. First Trust/Abrdn Global Opportunity Income Fund shares last traded at $6.51, with a volume of 67,600 shares traded.

First Trust/Abrdn Global Opportunity Income Fund Trading Down 1.1 %

The firm’s 50 day simple moving average is $6.49 and its two-hundred day simple moving average is $6.42.

First Trust/Abrdn Global Opportunity Income Fund Announces Dividend

The business also recently announced a monthly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were given a $0.06 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.72 dividend on an annualized basis and a yield of 11.06%.

Hedge Funds Weigh In On First Trust/Abrdn Global Opportunity Income Fund

A number of hedge funds have recently modified their holdings of FAM. ORG Partners LLC purchased a new position in First Trust/Abrdn Global Opportunity Income Fund in the first quarter valued at about $140,000. Founders Financial Alliance LLC grew its stake in shares of First Trust/Abrdn Global Opportunity Income Fund by 17.6% in the 2nd quarter. Founders Financial Alliance LLC now owns 24,746 shares of the financial services provider’s stock valued at $157,000 after buying an additional 3,708 shares in the last quarter. Shaker Financial Services LLC acquired a new position in First Trust/Abrdn Global Opportunity Income Fund in the second quarter worth approximately $191,000. Cetera Advisors LLC raised its position in First Trust/Abrdn Global Opportunity Income Fund by 170.3% during the first quarter. Cetera Advisors LLC now owns 43,250 shares of the financial services provider’s stock valued at $285,000 after acquiring an additional 27,251 shares in the last quarter. Finally, Quarry LP raised its position in First Trust/Abrdn Global Opportunity Income Fund by 8.1% during the second quarter. Quarry LP now owns 71,141 shares of the financial services provider’s stock valued at $451,000 after acquiring an additional 5,309 shares in the last quarter.

First Trust/Abrdn Global Opportunity Income Fund Company Profile

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.