Short Interest in Abrdn Global Infrastructure Income Fund (NYSE:ASGI) Increases By 66.0%

Abrdn Global Infrastructure Income Fund (NYSE:ASGI) was the target of a significant increase in short interest during the month of July. As of July 15th, there was short interest totaling 463,368 shares, an increase of 66.0% from the June 30th total of 279,124 shares. Based on an average trading volume of 162,208 shares, the short-interest ratio is presently 2.9 days.

Abrdn Global Infrastructure Income Fund Stock Performance

NYSE:ASGI traded up $0.10 on Friday, hitting $23.93. 94,862 shares of the stock were exchanged, compared to its average volume of 200,153. Abrdn Global Infrastructure Income Fund has a 52 week low of $20.01 and a 52 week high of $25.95. The company’s 50-day moving average price is $23.27 and its 200 day moving average price is $23.42.

Abrdn Global Infrastructure Income Fund Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, July 31st. Stockholders of record on Thursday, July 23rd will be given a dividend of $0.22 per share. The ex-dividend date is Thursday, July 23rd. This represents a c) annualized dividend and a dividend yield of 11.0%.

Hedge Funds Weigh In On Abrdn Global Infrastructure Income Fund

Large investors have recently bought and sold shares of the business. Geneos Wealth Management Inc. boosted its stake in Abrdn Global Infrastructure Income Fund by 147.9% in the first quarter. Geneos Wealth Management Inc. now owns 2,152 shares of the company’s stock valued at $40,000 after acquiring an additional 1,284 shares during the last quarter. Ascentis Independent Advisors acquired a new position in shares of Abrdn Global Infrastructure Income Fund in the 1st quarter valued at $41,000. Brown Brothers Harriman & Co. increased its holdings in shares of Abrdn Global Infrastructure Income Fund by 114.5% in the third quarter. Brown Brothers Harriman & Co. now owns 2,031 shares of the company’s stock worth $43,000 after acquiring an additional 1,084 shares in the last quarter. Allworth Financial LP raised its position in shares of Abrdn Global Infrastructure Income Fund by 44.3% during the fourth quarter. Allworth Financial LP now owns 2,164 shares of the company’s stock worth $48,000 after purchasing an additional 664 shares during the period. Finally, Eagle Bay Advisors LLC bought a new position in shares of Abrdn Global Infrastructure Income Fund during the 4th quarter valued at about $50,000.

Abrdn Global Infrastructure Income Fund Company Profile

Abrdn Global Infrastructure Income Fund (NYSE: ASGI) is a closed-end management investment company that seeks to deliver both current income and potential capital appreciation by investing in a diversified portfolio of global infrastructure securities. The fund provides investors with exposure to companies and projects that operate essential infrastructure assets such as utilities, energy networks, transportation systems, and communications facilities. Shares of ASGI trade on the New York Stock Exchange, offering market-based liquidity for investors seeking infrastructure income strategies.

The fund’s investment approach combines equity and debt instruments issued by infrastructure issuers in developed and select emerging markets.