abrdn National Municipal Income Fund (NYSE:VFL) Stock Price Up 2% Following Dividend Announcement

Shares of abrdn National Municipal Income Fund (NYSE:VFLGet Free Report) shot up 2% during trading on Monday after the company announced a dividend. The stock traded as high as $10.42 and last traded at $10.42. 174,824 shares traded hands during trading, an increase of 311% from the average session volume of 42,539 shares. The stock had previously closed at $10.22.

The newly announced dividend which will be paid on Thursday, February 29th. Shareholders of record on Thursday, February 22nd will be issued a dividend of $0.0375 per share. This represents a $0.45 annualized dividend and a yield of 4.32%. The ex-dividend date of this dividend is Wednesday, February 21st.

abrdn National Municipal Income Fund Trading Up 2.0 %

The company’s fifty day simple moving average is $10.13 and its 200-day simple moving average is $9.44.

Hedge Funds Weigh In On abrdn National Municipal Income Fund

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Robinson Capital Management LLC purchased a new position in shares of abrdn National Municipal Income Fund in the fourth quarter worth about $542,000. Matisse Capital lifted its stake in shares of abrdn National Municipal Income Fund by 19.3% in the fourth quarter. Matisse Capital now owns 177,120 shares of the company’s stock worth $1,808,000 after buying an additional 28,700 shares in the last quarter. Principal Securities Inc. purchased a new position in shares of abrdn National Municipal Income Fund in the fourth quarter worth about $57,000. Van ECK Associates Corp lifted its stake in shares of abrdn National Municipal Income Fund by 14.9% in the fourth quarter. Van ECK Associates Corp now owns 94,482 shares of the company’s stock worth $965,000 after buying an additional 12,250 shares in the last quarter. Finally, Wolverine Asset Management LLC increased its position in abrdn National Municipal Income Fund by 16.6% during the fourth quarter. Wolverine Asset Management LLC now owns 106,560 shares of the company’s stock worth $1,088,000 after purchasing an additional 15,135 shares during the last quarter. 33.33% of the stock is owned by hedge funds and other institutional investors.

abrdn National Municipal Income Fund Company Profile

(Get Free Report)

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.

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