Abrdn Global Infrastructure Income Fund (NYSE:ASGI) Stock Price Down 3.4% – Here’s What Happened

Abrdn Global Infrastructure Income Fund (NYSE:ASGI) traded down 3.4% on Tuesday . The stock traded as low as $22.61 and last traded at $22.81. 355,454 shares traded hands during mid-day trading, an increase of 75% from the average session volume of 203,412 shares. The stock had previously closed at $23.61.

Abrdn Global Infrastructure Income Fund Price Performance

The company has a 50-day simple moving average of $23.58 and a 200 day simple moving average of $23.04.

Abrdn Global Infrastructure Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Friday, May 29th. Investors of record on Thursday, May 21st were issued a dividend of $0.23 per share. The ex-dividend date was Thursday, May 21st. This represents a c) dividend on an annualized basis and a yield of 12.1%.

Insider Buying and Selling at Abrdn Global Infrastructure Income Fund

In related news, Director Alan R. Goodson sold 4,300 shares of the business’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $23.86, for a total value of $102,598.00. Following the completion of the sale, the director owned 657 shares in the company, valued at approximately $15,676.02. The trade was a 86.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Hedge Funds Weigh In On Abrdn Global Infrastructure Income Fund

A number of hedge funds and other institutional investors have recently modified their holdings of ASGI. Fifth Third Bancorp boosted its position in Abrdn Global Infrastructure Income Fund by 816,720.0% during the first quarter. Fifth Third Bancorp now owns 122,523 shares of the company’s stock valued at $2,740,000 after purchasing an additional 122,508 shares in the last quarter. Evolve Private Wealth LLC acquired a new position in Abrdn Global Infrastructure Income Fund during the 4th quarter valued at approximately $1,821,000. Equitable Holdings Inc. raised its holdings in shares of Abrdn Global Infrastructure Income Fund by 13.1% in the third quarter. Equitable Holdings Inc. now owns 630,412 shares of the company’s stock worth $13,321,000 after buying an additional 73,221 shares during the last quarter. Closed End Fund Advisors Inc. acquired a new stake in shares of Abrdn Global Infrastructure Income Fund during the fourth quarter worth $1,022,000. Finally, Successful Portfolios LLC acquired a new stake in shares of Abrdn Global Infrastructure Income Fund during the fourth quarter worth $871,000.

About Abrdn Global Infrastructure Income Fund

Abrdn Global Infrastructure Income Fund (NYSE: ASGI) is a closed-end management investment company that seeks to deliver both current income and potential capital appreciation by investing in a diversified portfolio of global infrastructure securities. The fund provides investors with exposure to companies and projects that operate essential infrastructure assets such as utilities, energy networks, transportation systems, and communications facilities. Shares of ASGI trade on the New York Stock Exchange, offering market-based liquidity for investors seeking infrastructure income strategies.

The fund’s investment approach combines equity and debt instruments issued by infrastructure issuers in developed and select emerging markets.