abrdn National Municipal Income Fund (NYSE:VFL) Stock Price Down 0.7% - Should You Sell?

Key Points

• The abrdn National Municipal Income Fund (NYSE:VFL) experienced a 0.7% decline, trading at $10.34 with a significant drop in trading volume of 31% from its average.
• The fund has declared a monthly dividend of $0.05 to be paid on October 31st, representing a 5.8% annual dividend yield.
• Institutional investors have shown increased interest, with notable new investments from several hedge funds, including Traub Capital Management LLC and Whipplewood Advisors LLC.

abrdn National Municipal Income Fund (NYSE:VFL - ) was down 0.7% on Friday . The stock traded as low as $10.32 and last traded at $10.34. Approximately 25,844 shares changed hands during trading, a decline of 31% from the average daily volume of 37,259 shares. The stock had previously closed at $10.41.

abrdn National Municipal Income Fund Stock Performance

The firm has a fifty day simple moving average of $10.06 and a two-hundred day simple moving average of $9.81.

abrdn National Municipal Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 24th will be issued a $0.05 dividend. The ex-dividend date is Friday, October 24th. This represents a c) dividend on an annualized basis and a dividend yield of 5.8%.

Hedge Funds Weigh In On abrdn National Municipal Income Fund

Institutional investors and hedge funds have recently modified their holdings of the stock. Traub Capital Management LLC purchased a new position in shares of abrdn National Municipal Income Fund in the 2nd quarter worth approximately $121,000. Financial Gravity Companies Inc. purchased a new position in shares of abrdn National Municipal Income Fund in the 2nd quarter worth approximately $46,000. Wolverine Asset Management LLC purchased a new position in shares of abrdn National Municipal Income Fund in the 2nd quarter worth approximately $77,000. Whipplewood Advisors LLC boosted its holdings in shares of abrdn National Municipal Income Fund by 28,709.5% in the 2nd quarter. Whipplewood Advisors LLC now owns 24,200 shares of the company's stock worth $234,000 after purchasing an additional 24,116 shares during the period. Finally, Realta Investment Advisors boosted its holdings in shares of abrdn National Municipal Income Fund by 58.5% in the 2nd 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.

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.

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