Abrdn Global Dynamic Dividend Fund (NYSE:AGD) Sees Significant Decline in Short Interest

Abrdn Global Dynamic Dividend Fund (NYSE:AGD) was the recipient of a large drop in short interest in December. As of December 15th, there was short interest totaling 24,181 shares, a drop of 60.5% from the November 30th total of 61,271 shares. Based on an average trading volume of 95,449 shares, the days-to-cover ratio is presently 0.3 days. Based on an average trading volume of 95,449 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Trading of Abrdn Global Dynamic Dividend Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AGD. Onyx Bridge Wealth Group LLC bought a new stake in Abrdn Global Dynamic Dividend Fund in the second quarter valued at approximately $114,000. XTX Topco Ltd acquired a new position in shares of Abrdn Global Dynamic Dividend Fund in the 2nd quarter valued at $135,000. CoreCap Advisors LLC increased its position in shares of Abrdn Global Dynamic Dividend Fund by 68.5% in the 3rd quarter. CoreCap Advisors LLC now owns 10,610 shares of the company’s stock valued at $141,000 after buying an additional 4,314 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in Abrdn Global Dynamic Dividend Fund during the 3rd quarter worth $148,000. Finally, Kovack Advisors Inc. bought a new position in Abrdn Global Dynamic Dividend Fund during the second quarter worth about $160,000.

Abrdn Global Dynamic Dividend Fund Price Performance

Shares of AGD stock traded down $0.04 during trading hours on Friday, reaching $12.08. 102,841 shares of the company were exchanged, compared to its average volume of 130,622. Abrdn Global Dynamic Dividend Fund has a fifty-two week low of $8.46 and a fifty-two week high of $13.98. The stock’s fifty day moving average is $11.63 and its two-hundred day moving average is $11.70.

Abrdn Global Dynamic Dividend Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, January 12th. Stockholders of record on Wednesday, December 31st will be paid a dividend of $0.12 per share. This represents a c) annualized dividend and a dividend yield of 11.9%. The ex-dividend date of this dividend is Wednesday, December 31st.

Abrdn Global Dynamic Dividend Fund Company Profile

Abrdn Global Dynamic Dividend Fund (NYSE: AGD) is a closed-end investment company that seeks to deliver a high level of current income along with the potential for capital appreciation. Managed by abrdn Investment Management Limited, the fund employs an active, research-driven approach to build a diversified portfolio of equity securities issued by companies around the world that demonstrate sustainable dividend payment histories.

The fund’s investment strategy combines top-down macroeconomic insights with bottom-up company analysis.