Abrdn Global Dynamic Dividend Fund (NYSE:AGD) Sees Large Growth in Short Interest

Abrdn Global Dynamic Dividend Fund (NYSE:AGD) was the recipient of a significant growth in short interest in November. As of November 30th, there was short interest totalling 36,800 shares, a growth of 7.0% from the November 15th total of 34,400 shares. Based on an average daily volume of 95,500 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Trading of Abrdn Global Dynamic Dividend Fund

Hedge funds have recently modified their holdings of the company. Pathstone Holdings LLC lifted its holdings in shares of 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 valued at $4,343,000 after acquiring an additional 90,780 shares during the last quarter. Cornerstone Advisors LLC lifted its holdings in shares of Abrdn Global Dynamic Dividend Fund by 417.8% in the 2nd quarter. Cornerstone Advisors LLC now owns 70,067 shares of the company’s stock worth $684,000 after acquiring an additional 56,536 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in shares of Abrdn Global Dynamic Dividend Fund during the second quarter valued at approximately $452,000. Brookstone Capital Management bought a new position in Abrdn Global Dynamic Dividend Fund in the 2nd quarter valued at $186,000. Finally, Rivernorth Capital Management LLC purchased a new position in Abrdn Global Dynamic Dividend Fund in the 3rd quarter worth about $119,000.

Abrdn Global Dynamic Dividend Fund Price Performance

Shares of AGD stock traded down $0.09 during mid-day trading on Tuesday, hitting $10.01. The company had a trading volume of 115,279 shares, compared to its average volume of 72,002. The stock’s 50 day moving average price is $10.27 and its 200-day moving average price is $10.10. Abrdn Global Dynamic Dividend Fund has a 52-week low of $9.09 and a 52-week high of $10.68.

Abrdn Global Dynamic Dividend Fund Announces Dividend

The company also recently declared a — dividend, which will be paid on Friday, January 10th. Investors of record on Monday, December 30th will be paid a dividend of $0.11 per share. This represents a yield of 9.7%. The ex-dividend date is Monday, December 30th.

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.