abrdn National Municipal Income Fund (NYSE:VFL) Sees Large Increase in Short Interest

Key Points

• abrdn National Municipal Income Fund (VFL) experienced a significant increase in short interest in September, rising by 52.0% to 19,300 shares compared to August.
• The fund announced a $0.05 monthly dividend, which reflects an annualized yield of 5.9%, with payments made to investors on September 30th.
• Several institutional investors, including Riverbridge Partners and Guggenheim Capital, have notably increased their stakes in the fund, indicating growing institutional interest.

abrdn National Municipal Income Fund (NYSE:VFL - ) saw a large growth in short interest in the month of September. As of September 15th, there was short interest totaling 19,300 shares, a growth of 52.0% from the August 31st total of 12,700 shares. Based on an average daily volume of 44,400 shares, the short-interest ratio is currently 0.4 days. Based on an average daily volume of 44,400 shares, the short-interest ratio is currently 0.4 days.

abrdn National Municipal Income Fund Stock Performance

Shares of VFL traded up $0.12 on Tuesday, reaching $10.24. The stock had a trading volume of 16,164 shares, compared to its average volume of 37,696. The firm has a 50-day moving average of $9.86 and a 200 day moving average of $9.79. abrdn National Municipal Income Fund has a twelve month low of $9.27 and a twelve month high of $11.25.

abrdn National Municipal Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 23rd were given a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, September 23rd. This represents a c) annualized dividend and a dividend yield of 5.9%.

Hedge Funds Weigh In On abrdn National Municipal Income Fund

Several hedge funds and other institutional investors have recently made changes to their positions in VFL. Riverbridge Partners LLC increased its stake in abrdn National Municipal Income Fund by 273.5% during the 1st quarter. Riverbridge Partners LLC now owns 113,357 shares of the company's stock worth $1,149,000 after buying an additional 83,011 shares during the period. Guggenheim Capital LLC boosted its position in shares of abrdn National Municipal Income Fund by 37.3% during the second quarter. Guggenheim Capital LLC now owns 242,126 shares of the company's stock worth $2,339,000 after buying an additional 65,835 shares during the period. Realta Investment Advisors lifted its holdings in abrdn National Municipal Income Fund by 58.5% in the second quarter. Realta Investment Advisors now owns 95,192 shares of the company's stock worth $920,000 after purchasing an additional 35,119 shares during the period. Sightline Wealth Advisors LLC bought a new stake in shares of abrdn National Municipal Income Fund in the 2nd quarter worth $313,000. Finally, Whipplewood Advisors LLC grew its position in abrdn National Municipal Income Fund by 28,709.5% in the second quarter. Whipplewood Advisors LLC now owns 24,200 shares of the company's stock worth $234,000 after buying an additional 24,116 shares during the last quarter.

abrdn National Municipal Income Fund Company Profile

abrdn National Municipal Income Fund is a closed-ended fixed income mutual fund launched and managed by abrdn Inc It invests in the fixed income markets of the United States. The fund primarily invests in investment grade municipal obligations, the income from which is exempt from federal income taxes.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.