Abrdn Global Dynamic Dividend Fund (NYSE:AGD) Stock Crosses Below Fifty Day Moving Average – Here’s Why

Abrdn Global Dynamic Dividend Fund (NYSE:AGD) shares passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $12.36 and traded as low as $11.97. Abrdn Global Dynamic Dividend Fund shares last traded at $12.09, with a volume of 147,163 shares trading hands.

Abrdn Global Dynamic Dividend Fund Trading Down 1.3%

The business has a fifty day moving average price of $12.36 and a 200 day moving average price of $11.13.

Abrdn Global Dynamic Dividend Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 24th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, October 24th. This represents a c) annualized dividend and a yield of 10.9%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AGD. Penserra Capital Management LLC bought a new position in Abrdn Global Dynamic Dividend Fund during the first quarter valued at about $6,591,000. Raymond James Financial Inc. boosted its stake in Abrdn Global Dynamic Dividend Fund by 82.4% during the second quarter. Raymond James Financial Inc. now owns 373,022 shares of the company’s stock valued at $4,118,000 after buying an additional 168,549 shares in the last quarter. Bank of America Corp DE boosted its stake in Abrdn Global Dynamic Dividend Fund by 18.6% during the second quarter. Bank of America Corp DE now owns 544,301 shares of the company’s stock valued at $6,009,000 after buying an additional 85,449 shares in the last quarter. International Assets Investment Management LLC bought a new position in Abrdn Global Dynamic Dividend Fund during the second quarter valued at about $663,000. Finally, Oppenheimer & Co. Inc. bought a new position in Abrdn Global Dynamic Dividend Fund during the first quarter valued at about $300,000.

Abrdn Global Dynamic Dividend Fund Company Profile

Abrdn Global Dynamic Dividend Fund is a closed ended equity mutual fund launched and managed by Alpine Woods Capital Investors, LLC. It invests in the public equity markets across the globe. The fund invests in stocks of companies operating across diversified sectors. It invests in growth and value stocks of companies across all market capitalizations.