abrdn National Municipal Income Fund (NYSE:VFL) Trading Down 0.1% – Here’s What Happened

abrdn National Municipal Income Fund (NYSE:VFL)’s stock price dropped 0.1% during trading on Wednesday . The company traded as low as $10.26 and last traded at $10.30. Approximately 24,094 shares changed hands during trading, a decline of 20% from the average daily volume of 30,012 shares. The stock had previously closed at $10.31.

abrdn National Municipal Income Fund Price Performance

The business’s fifty day simple moving average is $10.32 and its 200-day simple moving average is $10.18.

abrdn National Municipal Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 20th were issued a dividend of $0.05 per share. This represents a c) dividend on an annualized basis and a yield of 5.8%. The ex-dividend date was Friday, February 20th.

Hedge Funds Weigh In On abrdn National Municipal Income Fund

Hedge funds and other institutional investors have recently made changes to their positions in the business. Financial Gravity Companies Inc. bought a new stake in abrdn National Municipal Income Fund in the second quarter valued at $46,000. Raymond James Financial Inc. bought a new stake in shares of abrdn National Municipal Income Fund during the 2nd quarter valued at about $69,000. Wolverine Asset Management LLC purchased a new position in shares of abrdn National Municipal Income Fund during the second quarter valued at about $77,000. Financial Gravity Asset Management Inc. raised its stake in abrdn National Municipal Income Fund by 70.6% in the fourth quarter. Financial Gravity Asset Management Inc. now owns 8,103 shares of the company’s stock worth $83,000 after buying an additional 3,353 shares in the last quarter. Finally, Traub Capital Management LLC purchased a new stake in abrdn National Municipal Income Fund in the second quarter worth about $121,000.

About abrdn National Municipal Income Fund

abrdn National Municipal Income Fund (NYSE: VFL) is a diversified, closed-end management investment company that seeks to provide shareholders with a high level of current income exempt from federal income taxes. The fund primarily invests in a portfolio of municipal securities, including general obligation bonds, revenue bonds and other debt obligations issued by state and local governments across the United States.

The fund’s investment strategy emphasizes a combination of bottom-up credit research and sector allocation to build a tax-exempt portfolio.