abrdn Global Income Fund (NYSEAMERICAN:FCO) Trading Down 1.3% – Here’s Why

abrdn Global Income Fund, Inc. (NYSEAMERICAN:FCO)’s share price was down 1.3% during trading on Monday . The stock traded as low as $2.98 and last traded at $3.00. Approximately 75,488 shares changed hands during mid-day trading, a decline of 53% from the average daily volume of 160,335 shares. The stock had previously closed at $3.04.

abrdn Global Income Fund Trading Up 0.7%

The company has a fifty day moving average price of $3.09 and a two-hundred day moving average price of $3.37.

abrdn Global Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 24th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Tuesday, March 24th. This represents a c) dividend on an annualized basis and a dividend yield of 27.5%.

Institutional Trading of abrdn Global Income Fund

Institutional investors have recently bought and sold shares of the stock. Landscape Capital Management L.L.C. bought a new stake in abrdn Global Income Fund during the 3rd quarter worth approximately $47,000. Susquehanna International Group LLP raised its position in shares of abrdn Global Income Fund by 167.1% during the third quarter. Susquehanna International Group LLP now owns 53,629 shares of the company’s stock worth $160,000 after acquiring an additional 33,547 shares during the last quarter. Envestnet Asset Management Inc. acquired a new position in abrdn Global Income Fund during the 2nd quarter valued at about $118,000. Osaic Holdings Inc. lifted its holdings in abrdn Global Income Fund by 12.0% in the second quarter. Osaic Holdings Inc. now owns 14,402 shares of the company’s stock valued at $92,000 after buying an additional 1,547 shares during the period. Finally, Van Diest Capital LLC bought a new position in shares of abrdn Global Income Fund in the 4th quarter worth $74,000. Institutional investors and hedge funds own 10.79% of the company’s stock.

About abrdn Global Income Fund

abrdn Global Income Fund (NYSE American: FCO) is a closed-end management investment company that seeks to provide investors with high current income and the potential for capital appreciation. Managed by abrdn’s global investment team, the fund pursues a diversified strategy across both fixed-income and equity markets. It is structured to deliver monthly distributions by combining income-generating securities with active portfolio management and selective use of leverage.

The fund’s core holdings typically include a broad range of global corporate bonds, convertible securities, preferred stocks and high-yield credit.