Abrdn Global Infrastructure Income Fund (NYSE:ASGI) Sees Significant Drop in Short Interest

Abrdn Global Infrastructure Income Fund (NYSE:ASGI) was the recipient of a large drop in short interest in July. As of July 15th, there was short interest totalling 48,300 shares, a drop of 35.5% from the June 30th total of 74,900 shares. Based on an average daily trading volume, of 111,100 shares, the days-to-cover ratio is currently 0.4 days.

Abrdn Global Infrastructure Income Fund Trading Up 0.7 %

Shares of ASGI traded up $0.13 during trading hours on Monday, reaching $18.44. 146,118 shares of the company traded hands, compared to its average volume of 95,732. The company’s fifty day moving average price is $18.72 and its two-hundred day moving average price is $17.98. Abrdn Global Infrastructure Income Fund has a 12 month low of $14.96 and a 12 month high of $19.56.

Abrdn Global Infrastructure Income Fund Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 24th will be paid a dividend of $0.20 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 13.02%. The ex-dividend date of this dividend is Wednesday, July 24th.

Insider Activity

In other Abrdn Global Infrastructure Income Fund news, major shareholder Saba Capital Management, L.P. bought 18,556 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were bought at an average price of $17.20 per share, for a total transaction of $319,163.20. Following the transaction, the insider now directly owns 2,830,999 shares in the company, valued at $48,693,182.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders have purchased 43,718 shares of company stock worth $767,233.

Institutional Investors Weigh In On Abrdn Global Infrastructure Income Fund

Large investors have recently modified their holdings of the stock. Raymond James Financial Services Advisors Inc. boosted its stake in Abrdn Global Infrastructure Income Fund by 3.1% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 21,129 shares of the company’s stock worth $379,000 after acquiring an additional 638 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its stake in Abrdn Global Infrastructure Income Fund by 2.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 35,882 shares of the company’s stock worth $644,000 after acquiring an additional 962 shares in the last quarter. Creekmur Asset Management LLC bought a new stake in Abrdn Global Infrastructure Income Fund during the fourth quarter worth about $34,000. Eagle Bay Advisors LLC bought a new stake in Abrdn Global Infrastructure Income Fund during the first quarter worth about $35,000. Finally, Avalon Trust Co bought a new stake in Abrdn Global Infrastructure Income Fund during the fourth quarter worth about $48,000.

About Abrdn Global Infrastructure Income Fund

Aberdeen Standard Global Infrastructure Income Fund seeks to provide a high level of total return with an emphasis on current income by investing in assets that provide necessary services to society.

The Fund seeks to achieve its investment objective by investing in a portfolio of income-producing public and private
infrastructure equity investments from around the world.