Abrdn Global Infrastructure Income Fund (NYSE:ASGI) Shares Down 1.3% – Time to Sell?

Abrdn Global Infrastructure Income Fund (NYSE:ASGI) was down 1.3% on Thursday . The company traded as low as $19.50 and last traded at $19.56. Approximately 191,380 shares changed hands during mid-day trading, an increase of 82% from the average daily volume of 104,975 shares. The stock had previously closed at $19.81.

Abrdn Global Infrastructure Income Fund Stock Performance

The company’s 50-day moving average price is $19.88 and its two-hundred day moving average price is $18.96.

Abrdn Global Infrastructure Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Thursday, October 31st. Investors of record on Thursday, October 24th were issued a dividend of $0.21 per share. This represents a $2.52 dividend on an annualized basis and a yield of 12.89%. The ex-dividend date of this dividend was Thursday, October 24th.

Insiders Place Their Bets

In related news, major shareholder Saba Capital Management, L.P. acquired 41,344 shares of the business’s stock in a transaction dated Tuesday, September 24th. The stock was bought at an average price of $19.32 per share, for a total transaction of $798,766.08. Following the transaction, the insider now owns 2,957,749 shares of the company’s stock, valued at approximately $57,143,710.68. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Institutional Trading of Abrdn Global Infrastructure Income Fund

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Eagle Bay Advisors LLC acquired a new position in shares of Abrdn Global Infrastructure Income Fund in the first quarter worth about $35,000. Whittier Trust Co. purchased a new stake in shares of Abrdn Global Infrastructure Income Fund in the 1st quarter valued at approximately $133,000. Smart Portfolios LLC acquired a new position in Abrdn Global Infrastructure Income Fund in the 3rd quarter worth approximately $218,000. Wealth Enhancement Advisory Services LLC purchased a new position in Abrdn Global Infrastructure Income Fund during the 3rd quarter worth approximately $254,000. Finally, Commonwealth Equity Services LLC raised its stake in Abrdn Global Infrastructure Income Fund by 16.0% during the 2nd quarter. Commonwealth Equity Services LLC now owns 19,581 shares of the company’s stock valued at $358,000 after purchasing an additional 2,706 shares during the period.

Abrdn Global Infrastructure Income Fund Company Profile

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.