Abrdn Global Dynamic Dividend Fund (NYSE:AGD) Shares Cross Below 50 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 $12.06 and traded as low as $11.14. Abrdn Global Dynamic Dividend Fund shares last traded at $11.1650, with a volume of 80,392 shares traded.

Abrdn Global Dynamic Dividend Fund Stock Up 1.5%

The business has a 50 day simple moving average of $12.04 and a 200-day simple moving average of $12.04.

Abrdn Global Dynamic Dividend Fund Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 22nd were paid a dividend of $0.12 per share. This represents a $1.44 dividend on an annualized basis and a yield of 12.8%. The ex-dividend date of this dividend was Tuesday, September 22nd.

Hedge Funds Weigh In On Abrdn Global Dynamic Dividend Fund

A number of hedge funds have recently modified their holdings of AGD. Bank of America Corp DE acquired a new position in Abrdn Global Dynamic Dividend Fund in the 2nd quarter valued at approximately $6,442,000. Hennion & Walsh Asset Management Inc. increased its stake in shares of Abrdn Global Dynamic Dividend Fund by 1.2% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 310,171 shares of the company’s stock worth $3,756,000 after acquiring an additional 3,715 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of Abrdn Global Dynamic Dividend Fund by 32.2% in the first quarter. International Assets Investment Management LLC now owns 187,227 shares of the company’s stock worth $2,059,000 after acquiring an additional 45,632 shares during the last quarter. Royal Bank of Canada raised its stake in shares of Abrdn Global Dynamic Dividend Fund by 21.4% during the 1st quarter. Royal Bank of Canada now owns 183,901 shares of the company’s stock worth $1,986,000 after purchasing an additional 32,424 shares in the last quarter. Finally, HighTower Advisors LLC raised its position in Abrdn Global Dynamic Dividend Fund by 3.0% during the second quarter. HighTower Advisors LLC now owns 32,240 shares of the company’s stock valued at $390,000 after acquiring an additional 926 shares in the last quarter.

About Abrdn Global Dynamic Dividend Fund

Abrdn Global Dynamic Dividend Fund (NYSE: AGD) is a diversified, closed-end investment company that seeks to provide a high level of current income while also pursuing long-term capital appreciation. The fund is managed by abrdn and invests in a portfolio of securities issued by companies and other entities around the world.

The fund generally emphasizes dividend-paying equity securities, including common and preferred stocks, while retaining flexibility to invest in other income-producing assets and securities that may support its total-return objective.