Abrdn Global Infrastructure Income Fund (NYSE:ASGI) Stock Crosses Above 50 Day Moving Average – Should You Sell?

Shares of Abrdn Global Infrastructure Income Fund (NYSE:ASGI) passed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $20.54 and traded as high as $21.44. Abrdn Global Infrastructure Income Fund shares last traded at $21.0960, with a volume of 643,412 shares.

Abrdn Global Infrastructure Income Fund Price Performance

The firm’s 50-day simple moving average is $20.54 and its 200-day simple moving average is $22.80.

Abrdn Global Infrastructure Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Friday, October 30th. Stockholders of record on Tuesday, October 6th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Tuesday, October 6th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 12.5%.

Institutional Trading of Abrdn Global Infrastructure Income Fund

A number of large investors have recently modified their holdings of ASGI. Wedbush Securities Inc. grew its position in shares of Abrdn Global Infrastructure Income Fund by 114.9% during 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 in the last quarter. Retirement Planning Co of New England Inc. raised its holdings in shares of Abrdn Global Infrastructure Income Fund by 7.0% in the third quarter. Retirement Planning Co of New England Inc. now owns 20,824 shares of the company’s stock valued at $402,000 after acquiring an additional 1,359 shares in the last quarter. Farther Finance Advisors LLC bought a new stake in shares of Abrdn Global Infrastructure Income Fund in the third quarter valued at about $830,000. Baird Financial Group Inc. lifted its stake in Abrdn Global Infrastructure Income Fund by 1.1% in the second quarter. Baird Financial Group Inc. now owns 54,586 shares of the company’s stock worth $1,269,000 after acquiring an additional 609 shares during the period. Finally, Readystate Asset Management LP purchased a new stake in Abrdn Global Infrastructure Income Fund in the second quarter worth about $574,000.

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.