abrdn National Municipal Income Fund (NYSE:VFL) Stock Price Up 1.1% After Dividend Announcement

abrdn National Municipal Income Fund (NYSE:VFL) shot up 1.1% during trading on Thursday after the company announced a dividend. The company traded as high as $10.31 and last traded at $10.27. 35,536 shares were traded during mid-day trading, a decline of 9% from the average session volume of 39,086 shares. The stock had previously closed at $10.16.

The newly announced dividend which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 23rd will be paid a dividend of $0.05 per share. This represents a c) annualized dividend and a dividend yield of 5.8%. The ex-dividend date is Tuesday, September 23rd.

abrdn National Municipal Income Fund Stock Performance

The company has a 50 day moving average price of $9.63 and a 200 day moving average price of $9.83.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in VFL. Riverbridge Partners LLC boosted its stake in shares of abrdn National Municipal Income Fund by 273.5% during the 1st quarter. Riverbridge Partners LLC now owns 113,357 shares of the company’s stock worth $1,149,000 after acquiring an additional 83,011 shares during the period. Guggenheim Capital LLC lifted its holdings in abrdn National Municipal Income Fund by 37.3% during the 2nd quarter. Guggenheim Capital LLC now owns 242,126 shares of the company’s stock worth $2,339,000 after purchasing an additional 65,835 shares during the last quarter. Realta Investment Advisors lifted its holdings in abrdn National Municipal Income Fund by 58.5% during the 2nd quarter. Realta Investment Advisors now owns 95,192 shares of the company’s stock worth $920,000 after purchasing an additional 35,119 shares during the last quarter. Sightline Wealth Advisors LLC acquired a new stake in abrdn National Municipal Income Fund during the 2nd quarter worth approximately $313,000. Finally, Whipplewood Advisors LLC lifted its holdings in abrdn National Municipal Income Fund by 28,709.5% during the 2nd quarter. Whipplewood Advisors LLC now owns 24,200 shares of the company’s stock worth $234,000 after purchasing an additional 24,116 shares during the last quarter.

About abrdn National Municipal Income Fund

abrdn National Municipal Income Fund is a closed-ended fixed income mutual fund launched and managed by abrdn Inc It invests in the fixed income markets of the United States. The fund primarily invests in investment grade municipal obligations, the income from which is exempt from federal income taxes.