abrdn Global Income Fund (NYSEAMERICAN:FCO) Shares Down 2.4% – Here’s What Happened

abrdn Global Income Fund, Inc. (NYSEAMERICAN:FCO)’s stock price dropped 2.4% during trading on Tuesday . The company traded as low as $2.86 and last traded at $2.88. Approximately 129,898 shares changed hands during mid-day trading, a decline of 34% from the average daily volume of 195,626 shares. The stock had previously closed at $2.95.

abrdn Global Income Fund Trading Down 2.4%

The company’s 50-day moving average price is $4.24 and its two-hundred day moving average price is $5.58.

abrdn Global Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 24th will be given a dividend of $0.07 per share. The ex-dividend date is Friday, October 24th. This represents a c) annualized dividend and a dividend yield of 29.2%.

Institutional Trading of abrdn Global Income Fund

Several institutional investors and hedge funds have recently made changes to their positions in FCO. Integrity Alliance LLC. purchased a new stake in shares of abrdn Global Income Fund during the 1st quarter valued at $138,000. Envestnet Asset Management Inc. purchased a new stake in shares of abrdn Global Income Fund during the 2nd quarter valued at $118,000. Ethos Financial Group LLC purchased a new stake in shares of abrdn Global Income Fund during the 1st quarter valued at $96,000. Detalus Advisors LLC purchased a new stake in shares of abrdn Global Income Fund during the 1st quarter valued at $66,000. Finally, Foundations Investment Advisors LLC purchased a new stake in shares of abrdn Global Income Fund during the 1st quarter valued at $61,000. Hedge funds and other institutional investors own 10.79% of the company’s stock.

abrdn Global Income Fund Company Profile

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.