Abrdn Global Dynamic Dividend Fund (NYSE:AGD) Stock Passes Above 50-Day Moving Average – Here’s What Happened

Abrdn Global Dynamic Dividend Fund (NYSE:AGD) shares passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $10.06 and traded as high as $10.29. Abrdn Global Dynamic Dividend Fund shares last traded at $10.18, with a volume of 104,904 shares changing hands.

Abrdn Global Dynamic Dividend Fund Stock Performance

The stock’s 50-day simple moving average is $10.06 and its 200 day simple moving average is $10.16.

Abrdn Global Dynamic Dividend Fund Cuts Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 24th were given a $0.11 dividend. The ex-dividend date was Friday, January 24th. This represents a $1.32 dividend on an annualized basis and a yield of 12.99%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Sanctuary Advisors LLC acquired a new position in Abrdn Global Dynamic Dividend Fund during the second quarter worth about $452,000. Pathstone Holdings LLC boosted its stake in shares of Abrdn Global Dynamic Dividend Fund by 28.5% during the 3rd quarter. Pathstone Holdings LLC now owns 408,798 shares of the company’s stock worth $4,343,000 after acquiring an additional 90,780 shares in the last quarter. Rivernorth Capital Management LLC acquired a new stake in shares of Abrdn Global Dynamic Dividend Fund in the 3rd quarter worth approximately $119,000. Stifel Financial Corp purchased a new position in Abrdn Global Dynamic Dividend Fund in the 3rd quarter valued at approximately $111,000. Finally, TD Private Client Wealth LLC acquired a new position in Abrdn Global Dynamic Dividend Fund during the third quarter worth $80,000.

Abrdn Global Dynamic Dividend Fund Company Profile

Abrdn Global Dynamic Dividend Fund is a closed ended equity mutual fund launched and managed by Alpine Woods Capital Investors, LLC. It invests in the public equity markets across the globe. The fund invests in stocks of companies operating across diversified sectors. It invests in growth and value stocks of companies across all market capitalizations.