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)’s share price crossed above its 50-day moving average during trading on Thursday . The stock has a 50-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 Price Performance

The firm has a 50-day simple moving average of $10.06 and a two-hundred day simple moving average of $10.16.

Abrdn Global Dynamic Dividend Fund Cuts Dividend

The firm also recently announced a monthly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 24th were issued a dividend of $0.11 per share. The ex-dividend date of this dividend was Friday, January 24th. This represents a $1.32 dividend on an annualized basis and a yield of 12.99%.

Hedge Funds Weigh In On Abrdn Global Dynamic Dividend Fund

Several institutional investors have recently modified their holdings of AGD. IFP Advisors Inc increased its position in shares of Abrdn Global Dynamic Dividend Fund by 625.0% in the 4th quarter. IFP Advisors Inc now owns 2,900 shares of the company’s stock valued at $28,000 after purchasing an additional 2,500 shares during the last quarter. TD Private Client Wealth LLC acquired a new position in shares of Abrdn Global Dynamic Dividend Fund in the 3rd quarter valued at $80,000. Stifel Financial Corp acquired a new stake in Abrdn Global Dynamic Dividend Fund during the 3rd quarter worth $111,000. Rivernorth Capital Management LLC purchased a new stake in Abrdn Global Dynamic Dividend Fund in the third quarter valued at $119,000. Finally, Kapstone Financial Advisors LLC purchased a new position in shares of Abrdn Global Dynamic Dividend Fund during the fourth quarter worth about $132,000.

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.