abrdn National Municipal Income Fund (NYSE:VFL) Stock Price Down 0.8% – Here’s What Happened

Shares of abrdn National Municipal Income Fund (NYSE:VFL) fell 0.8% during mid-day trading on Thursday . The stock traded as low as $9.87 and last traded at $9.88. 21,080 shares traded hands during mid-day trading, a decline of 34% from the average session volume of 31,966 shares. The stock had previously closed at $9.96.

abrdn National Municipal Income Fund Price Performance

The stock has a fifty day simple moving average of $10.20 and a 200-day simple moving average of $10.21.

abrdn National Municipal Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 24th were issued a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, March 24th. This represents a c) dividend on an annualized basis and a yield of 6.1%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC grew its stake in abrdn National Municipal Income Fund by 122.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 353,273 shares of the company’s stock valued at $3,625,000 after acquiring an additional 194,626 shares in the last quarter. Closed End Fund Advisors Inc. acquired a new position in shares of abrdn National Municipal Income Fund during the 4th quarter worth approximately $1,447,000. Hennion & Walsh Asset Management Inc. increased its position in abrdn National Municipal Income Fund by 104.4% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 241,251 shares of the company’s stock worth $2,478,000 after purchasing an additional 123,244 shares during the last quarter. Rivernorth Capital Management LLC raised its stake in abrdn National Municipal Income Fund by 78.5% during the fourth quarter. Rivernorth Capital Management LLC now owns 178,854 shares of the company’s stock worth $1,837,000 after purchasing an additional 78,673 shares during the period. Finally, Guggenheim Capital LLC boosted its holdings in abrdn National Municipal Income Fund by 37.3% in the 2nd quarter. Guggenheim Capital LLC now owns 242,126 shares of the company’s stock valued at $2,339,000 after purchasing an additional 65,835 shares during the last quarter.

abrdn National Municipal Income Fund Company Profile

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.