abrdn National Municipal Income Fund (NYSE:VFL) Stock Price Up 0.4% - Here's Why

Key Points

• The abrdn National Municipal Income Fund (NYSE:VFL) saw a 0.4% increase during mid-day trading, reaching a last traded price of $9.57, with trading volume rising 37% compared to its daily average.
• A monthly $0.05 dividend will be paid on August 29th to stockholders of record as of August 22nd, representing an annual dividend yield of 6.3%.
• Several institutions, including Wealth Enhancement Advisory Services LLC and LPL Financial LLC, increased their stakes in the fund recently, indicating growing interest from institutional investors.

abrdn National Municipal Income Fund (NYSE:VFL - Get Free Report) was up 0.4% on Wednesday . The stock traded as high as $9.64 and last traded at $9.57. Approximately 52,898 shares were traded during trading, an increase of 37% from the average daily volume of 38,750 shares. The stock had previously closed at $9.53.

abrdn National Municipal Income Fund Stock Performance

The firm has a fifty day simple moving average of $9.61 and a two-hundred day simple moving average of $9.90.

abrdn National Municipal Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 22nd will be paid a $0.05 dividend. This represents a c) annualized dividend and a dividend yield of 6.3%. The ex-dividend date of this dividend is Friday, August 22nd.

Institutional Investors Weigh In On abrdn National Municipal Income Fund

Several institutional investors have recently modified their holdings of VFL. Financial Gravity Companies Inc. bought a new stake in shares of abrdn National Municipal Income Fund in the 2nd quarter valued at approximately $46,000. Financial Gravity Asset Management Inc. bought a new stake in shares of abrdn National Municipal Income Fund in the 1st quarter valued at approximately $48,000. Raymond James Financial Inc. bought a new stake in shares of abrdn National Municipal Income Fund in the 2nd quarter valued at approximately $69,000. Wolverine Asset Management LLC bought a new stake in shares of abrdn National Municipal Income Fund in the 2nd quarter valued at approximately $77,000. Finally, Landscape Capital Management L.L.C. bought a new stake in shares of abrdn National Municipal Income Fund in the 1st quarter valued at approximately $109,000.

About abrdn National Municipal Income Fund

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.