abrdn Global Income Fund (NYSEAMERICAN:FCO) Trading Up 0.3% – Here’s Why

abrdn Global Income Fund, Inc. (NYSEAMERICAN:FCO)’s share price rose 0.3% during mid-day trading on Wednesday . The company traded as high as $2.96 and last traded at $2.93. Approximately 127,871 shares changed hands during trading, an increase of 15% from the average daily volume of 111,001 shares. The stock had previously closed at $2.92.

abrdn Global Income Fund Price Performance

The company’s fifty day simple moving average is $2.94 and its 200 day simple moving average is $5.03.

abrdn Global Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Friday, November 28th. Investors of record on Friday, November 21st were paid a $0.07 dividend. This represents a c) dividend on an annualized basis and a yield of 28.7%. The ex-dividend date of this dividend was Friday, November 21st.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Osaic Holdings Inc. lifted its position in abrdn Global Income Fund by 12.0% during the second quarter. Osaic Holdings Inc. now owns 14,402 shares of the company’s stock valued at $92,000 after buying an additional 1,547 shares during the period. Integrity Advisory Solutions LLC bought a new position in shares of abrdn Global Income Fund in the 3rd quarter worth about $34,000. Oppenheimer & Co. Inc. increased its stake in shares of abrdn Global Income Fund by 10.6% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 123,036 shares of the company’s stock worth $367,000 after acquiring an additional 11,819 shares in the last quarter. Virtu Financial LLC purchased a new position in abrdn Global Income Fund during the 3rd quarter valued at about $36,000. Finally, Landscape Capital Management L.L.C. bought a new stake in abrdn Global Income Fund during the third quarter worth about $47,000. Hedge funds and other institutional investors own 10.79% of the company’s stock.

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.