Abrdn Global Infrastructure Income Fund (NYSE:ASGI) Stock Price Down 0.7% – Here’s Why

Abrdn Global Infrastructure Income Fund (NYSE:ASGI) shares traded down 0.7% during mid-day trading on Wednesday . The stock traded as low as $22.98 and last traded at $23.0760. 162,828 shares traded hands during trading, a decline of 18% from the average daily volume of 198,324 shares. The stock had previously closed at $23.25.

Abrdn Global Infrastructure Income Fund Stock Performance

The company has a 50-day simple moving average of $23.30 and a two-hundred day simple moving average of $23.18.

Abrdn Global Infrastructure Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 23rd were given a dividend of $0.23 per share. This represents a c) dividend on an annualized basis and a yield of 12.0%. The ex-dividend date of this dividend was Tuesday, June 23rd.

Insider Activity at Abrdn Global Infrastructure Income Fund

In other 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 transaction of $102,598.00. Following the completion of the sale, the director owned 657 shares in the company, valued at $15,676.02. The trade was a 86.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Hedge Funds Weigh In On Abrdn Global Infrastructure Income Fund

Hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC lifted its position in shares of Abrdn Global Infrastructure Income Fund by 39.9% during the 1st quarter. Jane Street Group LLC now owns 14,204 shares of the company’s stock worth $261,000 after buying an additional 4,049 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in Abrdn Global Infrastructure Income Fund by 147.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 2,152 shares of the company’s stock worth $40,000 after buying an additional 1,284 shares during the period. Cetera Investment Advisers lifted its holdings in shares of Abrdn Global Infrastructure Income Fund by 5.6% during the second quarter. Cetera Investment Advisers now owns 25,323 shares of the company’s stock worth $516,000 after purchasing an additional 1,332 shares during the period. Invesco Ltd. lifted its holdings in Abrdn Global Infrastructure Income Fund by 9.0% during the 2nd quarter. Invesco Ltd. now owns 64,360 shares of the company’s stock worth $1,312,000 after buying an additional 5,313 shares during the period. Finally, Baird Financial Group Inc. lifted its stake in shares of Abrdn Global Infrastructure Income Fund by 168.1% in the second quarter. Baird Financial Group Inc. now owns 55,867 shares of the company’s stock worth $1,139,000 after acquiring an additional 35,030 shares during the period.

Abrdn Global Infrastructure Income Fund Company Profile

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.