Abrdn Global Infrastructure Income Fund (NYSE:ASGI) Trading Up 0.6% – Should You Buy?

Abrdn Global Infrastructure Income Fund (NYSE:ASGI) shares were up 0.6% during mid-day trading on Wednesday . The stock traded as high as $22.35 and last traded at $22.27. Approximately 173,640 shares were traded during mid-day trading, an increase of 1% from the average daily volume of 171,515 shares. The stock had previously closed at $22.13.

Abrdn Global Infrastructure Income Fund Price Performance

The business’s fifty day moving average is $21.03 and its 200-day moving average is $20.69.

Abrdn Global Infrastructure Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 21st were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, November 21st. This represents a c) annualized dividend and a dividend yield of 11.3%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ASGI. Wolverine Asset Management LLC increased its stake in Abrdn Global Infrastructure Income Fund by 1,104.7% during the first quarter. Wolverine Asset Management LLC now owns 196,033 shares of the company’s stock worth $3,605,000 after acquiring an additional 179,760 shares during the last quarter. Cornerstone Advisors LLC purchased a new stake in shares of Abrdn Global Infrastructure Income Fund during the 1st quarter worth about $2,072,000. Raymond James Financial Inc. increased its position in Abrdn Global Infrastructure Income Fund by 113.4% during the 1st quarter. Raymond James Financial Inc. now owns 199,068 shares of the company’s stock worth $3,661,000 after purchasing an additional 105,795 shares in the last quarter. Smith Asset Management Co. LLC purchased a new position in Abrdn Global Infrastructure Income Fund in the first quarter valued at approximately $1,456,000. Finally, Equitable Holdings Inc. lifted its holdings in shares of Abrdn Global Infrastructure Income Fund by 13.1% during the 3rd quarter. Equitable Holdings Inc. now owns 630,412 shares of the company’s stock valued at $13,321,000 after acquiring an additional 73,221 shares in the last quarter.

Abrdn Global Infrastructure Income Fund Company Profile

Aberdeen Standard Global Infrastructure Income Fund seeks to provide a high level of total return with an emphasis on current income by investing in assets that provide necessary services to society.

The Fund seeks to achieve its investment objective by investing in a portfolio of income-producing public and private
infrastructure equity investments from around the world.