abrdn Global Income Fund (NYSEAMERICAN:FCO) Trading Up 0.5% - Here's Why

Key Points

• The abrdn Global Income Fund (NYSEAMERICAN:FCO) saw its shares increase by 0.5% during midday trading, reaching a high of $6.71 and closing at $6.69.
• The fund announced a monthly dividend of $0.07 per share, translating to an annualized yield of 12.6% for shareholders of record on August 22.
• Recent institutional trading activity includes new positions acquired by several hedge funds, contributing to a total of 10.79% of the stock being owned by institutional investors.

abrdn Global Income Fund, Inc. (NYSEAMERICAN:FCO - ) shares traded up 0.5% during mid-day trading on Wednesday . The company traded as high as $6.71 and last traded at $6.69. 42,111 shares were traded during trading, a decline of 10% from the average session volume of 46,810 shares. The stock had previously closed at $6.66.

abrdn Global Income Fund Stock Performance

The company's 50 day moving average is $6.58.

abrdn Global Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 22nd were issued a $0.07 dividend. The ex-dividend date was Friday, August 22nd. This represents a c) dividend on an annualized basis and a yield of 12.6%.

Institutional Trading of abrdn Global Income Fund

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Foundations Investment Advisors LLC acquired a new position in shares of abrdn Global Income Fund in the first quarter worth about $61,000. Detalus Advisors LLC purchased a new stake in abrdn Global Income Fund during the 1st quarter worth approximately $66,000. Osaic Holdings Inc. raised its position in shares of abrdn Global Income Fund by 12.0% in the 2nd quarter. Osaic Holdings Inc. now owns 14,402 shares of the company's stock valued at $92,000 after purchasing an additional 1,547 shares in the last quarter. Ethos Financial Group LLC purchased a new position in shares of abrdn Global Income Fund during the 1st quarter valued at approximately $96,000. Finally, Envestnet Asset Management Inc. purchased a new position in shares of abrdn Global Income Fund during the 2nd quarter valued at approximately $118,000. 10.79% of the stock is owned by hedge funds and other institutional investors.

About abrdn Global Income Fund

Abrdn Global Income Fund Inc is a closed-ended fixed income mutual fund launched and managed by Aberdeen Standard Investments (Asia) Limited. It is co-managed by Aberdeen Standard Investments Australia Limited and Aberdeen Asset Managers Limited. The fund invests in fixed income markets across the globe.

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