Abrdn Global Infrastructure Income Fund (NYSE:ASGI) Sees Large Increase in Short Interest

Abrdn Global Infrastructure Income Fund (NYSE:ASGI) was the target of a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 193,000 shares, a growth of 26.3% from the October 15th total of 152,800 shares. Based on an average daily trading volume, of 126,100 shares, the days-to-cover ratio is currently 1.5 days.

Abrdn Global Infrastructure Income Fund Trading Up 0.4 %

NYSE:ASGI traded up $0.07 during mid-day trading on Friday, hitting $19.23. The company had a trading volume of 170,275 shares, compared to its average volume of 106,935. The business has a fifty day simple moving average of $19.85 and a 200-day simple moving average of $19.13. Abrdn Global Infrastructure Income Fund has a 1 year low of $16.58 and a 1 year high of $20.35.

Abrdn Global Infrastructure Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, November 29th. Stockholders of record on Thursday, November 21st will be paid a dividend of $0.21 per share. The ex-dividend date is Thursday, November 21st. This represents a $2.52 annualized dividend and a dividend yield of 13.10%.

Insider Buying and Selling

In related news, major shareholder Saba Capital Management, L.P. acquired 41,344 shares of the business’s stock in a transaction on Tuesday, September 24th. The shares were bought at an average cost of $19.32 per share, with a total value of $798,766.08. Following the completion of the transaction, the insider now directly owns 2,957,749 shares of the company’s stock, valued at $57,143,710.68. This trade represents a 1.42 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Institutional Trading of Abrdn Global Infrastructure Income Fund

Several large investors have recently modified their holdings of the business. Penserra Capital Management LLC acquired a new stake in shares of Abrdn Global Infrastructure Income Fund during the third quarter valued at about $14,453,000. Karpus Management Inc. grew its stake in shares of Abrdn Global Infrastructure Income Fund by 1.6% during the first quarter. Karpus Management Inc. now owns 659,067 shares of the company’s stock valued at $11,698,000 after acquiring an additional 10,534 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Abrdn Global Infrastructure Income Fund during the third quarter valued at about $5,175,000. Old Port Advisors acquired a new stake in shares of Abrdn Global Infrastructure Income Fund during the third quarter valued at about $1,885,000. Finally, Capital Investment Advisors LLC acquired a new stake in shares of Abrdn Global Infrastructure Income Fund during the third quarter valued at about $1,584,000.

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.