abrdn National Municipal Income Fund (NYSE:VFL) Trading Up 0% – Time to Buy?

abrdn National Municipal Income Fund (NYSE:VFL) shares shot up 0% on Tuesday . The company traded as high as $10.24 and last traded at $10.2110. 22,056 shares changed hands during trading, a decline of 34% from the average session volume of 33,225 shares. The stock had previously closed at $10.21.

abrdn National Municipal Income Fund Trading Down 0.5%

The company’s 50 day simple moving average is $10.10 and its 200-day simple moving average is $10.18.

abrdn National Municipal Income Fund Announces Dividend

The business also recently announced a monthly dividend, which was paid on Friday, May 29th. Shareholders of record on Thursday, May 21st were paid a $0.05 dividend. This represents a c) dividend on an annualized basis and a yield of 5.9%. The ex-dividend date was Thursday, May 21st.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Fifth Third Bancorp acquired a new position in shares of abrdn National Municipal Income Fund during the 1st quarter valued at $36,000. Raymond James Financial Inc. bought a new stake in abrdn National Municipal Income Fund in the second quarter worth about $69,000. Financial Gravity Asset Management Inc. lifted its holdings in abrdn National Municipal Income Fund by 70.6% in the 4th quarter. Financial Gravity Asset Management Inc. now owns 8,103 shares of the company’s stock valued at $83,000 after acquiring an additional 3,353 shares during the last quarter. River Street Advisors LLC bought a new stake in shares of abrdn National Municipal Income Fund in the 4th quarter worth approximately $122,000. Finally, Traub Capital Management LLC bought a new stake in abrdn National Municipal Income Fund during the fourth quarter worth approximately $125,000.

About abrdn National Municipal Income Fund

abrdn National Municipal Income Fund (NYSE: VFL) is a diversified, closed-end management investment company that seeks to provide shareholders with a high level of current income exempt from federal income taxes. The fund primarily invests in a portfolio of municipal securities, including general obligation bonds, revenue bonds and other debt obligations issued by state and local governments across the United States.

The fund’s investment strategy emphasizes a combination of bottom-up credit research and sector allocation to build a tax-exempt portfolio.