Abrdn Global Infrastructure Income Fund (NYSE:ASGI) Shares Climb 3% – Here’s What Happened

Abrdn Global Infrastructure Income Fund (NYSE:ASGI) was up 3% during mid-day trading on Monday. The stock traded as high as $21.44 and last traded at $21.0960. Approximately 643,412 shares traded hands during trading, an increase of 198% from the average session volume of 215,586 shares. The stock had previously closed at $20.49.

Abrdn Global Infrastructure Income Fund Stock Up 0.4%

The stock’s 50 day moving average is $20.39 and its 200-day moving average is $22.79.

Abrdn Global Infrastructure Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Friday, October 30th. Shareholders of record on Tuesday, October 6th were given a dividend of $0.22 per share. This represents a $2.64 annualized dividend and a yield of 12.6%. The ex-dividend date of this dividend was Tuesday, October 6th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Fifth Third Bancorp lifted its position in Abrdn Global Infrastructure Income Fund by 816,720.0% during the first quarter. Fifth Third Bancorp now owns 122,523 shares of the company’s stock valued at $2,740,000 after buying an additional 122,508 shares during the period. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Abrdn Global Infrastructure Income Fund by 52.9% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 142,637 shares of the company’s stock valued at $3,316,000 after buying an additional 49,339 shares in the last quarter. Farther Finance Advisors LLC bought a new stake in shares of Abrdn Global Infrastructure Income Fund during the 3rd quarter valued at $830,000. Readystate Asset Management LP bought a new stake in shares of Abrdn Global Infrastructure Income Fund during the 2nd quarter valued at $574,000. Finally, Wedbush Securities Inc. grew its position in shares of Abrdn Global Infrastructure Income Fund by 114.9% in the 3rd quarter. Wedbush Securities Inc. now owns 20,651 shares of the company’s stock worth $399,000 after buying an additional 11,040 shares during the period.

Abrdn Global Infrastructure Income Fund Company Profile

Abrdn Global Infrastructure Income Fund (NYSE: ASGI) is a closed-end investment fund managed by abrdn Inc The fund seeks to provide investors with a high level of current income and the opportunity for capital appreciation by investing in infrastructure-related assets and companies.

ASGI invests globally across infrastructure sectors, including utilities, energy, transportation, communications and other essential services. Its portfolio may include common and preferred stocks, debt securities and other income-producing investments issued by companies involved in developing, owning or operating infrastructure assets.

The fund provides exposure to infrastructure businesses in the United States and international markets, including developed and emerging economies.