Abrdn Global Infrastructure Income Fund (NYSE:ASGI) Trading Down 0.4% After Insider Selling

Abrdn Global Infrastructure Income Fund (NYSE:ASGI) was down 0.4% during trading on Friday following insider selling activity. The company traded as low as $19.68 and last traded at $19.70. Approximately 106,307 shares changed hands during trading, a decline of 1% from the average daily volume of 107,482 shares. The stock had previously closed at $19.77.

Specifically, major shareholder Saba Capital Management, L.P. sold 20,860 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $19.68, for a total transaction of $410,524.80. Following the completion of the sale, the insider now directly owns 2,702,703 shares of the company’s stock, valued at approximately $53,189,195.04. This trade represents a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Saba Capital Management, L.P. sold 28,901 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $19.82, for a total value of $572,817.82. Following the completion of the transaction, the insider now directly owns 2,731,436 shares in the company, valued at approximately $54,137,061.52. This represents a 1.05 % decrease in their position. The disclosure for this sale can be found here. In other Abrdn Global Infrastructure Income Fund news, major shareholder Saba Capital Management, L.P. sold 12,724 shares of the company’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $19.83, for a total value of $252,316.92. Following the completion of the transaction, the insider now owns 2,760,337 shares in the company, valued at $54,737,482.71. This represents a 0.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Abrdn Global Infrastructure Income Fund Stock Down 0.4 %

The stock’s fifty day moving average is $19.78 and its two-hundred day moving average is $19.29.

Abrdn Global Infrastructure Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Friday, November 29th. Shareholders of record on Thursday, November 21st were paid a $0.21 dividend. The ex-dividend date was Thursday, November 21st. This represents a $2.52 annualized dividend and a dividend yield of 12.79%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Penserra Capital Management LLC purchased a new stake in Abrdn Global Infrastructure Income Fund during the third quarter valued at about $14,453,000. International Assets Investment Management LLC bought a new stake in shares of Abrdn Global Infrastructure Income Fund in the third quarter valued at approximately $5,175,000. Old Port Advisors bought a new stake in shares of Abrdn Global Infrastructure Income Fund in the third quarter valued at approximately $1,885,000. Capital Investment Advisors LLC purchased a new stake in shares of Abrdn Global Infrastructure Income Fund during the 3rd quarter valued at approximately $1,584,000. Finally, Sanctuary Advisors LLC bought a new position in Abrdn Global Infrastructure Income Fund in the 2nd quarter worth approximately $1,228,000.

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.