Abrdn Global Infrastructure Income Fund (NYSE:ASGI) Stock Price Down 1.1% – Here’s Why

Abrdn Global Infrastructure Income Fund (NYSE:ASGI)’s share price fell 1.1% on Tuesday . The company traded as low as $20.42 and last traded at $20.44. 188,989 shares traded hands during mid-day trading, an increase of 17% from the average session volume of 162,135 shares. The stock had previously closed at $20.68.

Abrdn Global Infrastructure Income Fund Stock Performance

The firm’s 50-day moving average is $19.82 and its two-hundred day moving average is $18.63.

Abrdn Global Infrastructure Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 24th will be paid a $0.21 dividend. The ex-dividend date is Thursday, July 24th. This represents a $2.52 annualized dividend and a dividend yield of 12.33%.

Institutional Investors Weigh In On Abrdn Global Infrastructure Income Fund

A number of hedge funds have recently added to or reduced their stakes in the business. Raymond James Financial Inc. purchased a new position in Abrdn Global Infrastructure Income Fund during the 4th quarter worth $1,635,000. Retirement Planning Co of New England Inc. boosted its holdings in shares of Abrdn Global Infrastructure Income Fund by 21.8% in the fourth quarter. Retirement Planning Co of New England Inc. now owns 16,412 shares of the company’s stock valued at $288,000 after acquiring an additional 2,934 shares in the last quarter. Millstone Evans Group LLC purchased a new stake in shares of Abrdn Global Infrastructure Income Fund in the fourth quarter valued at about $34,000. Virtu Financial LLC purchased a new stake in shares of Abrdn Global Infrastructure Income Fund in the fourth quarter valued at about $388,000. Finally, LPL Financial LLC boosted its holdings in shares of Abrdn Global Infrastructure Income Fund by 4.0% in the fourth quarter. LPL Financial LLC now owns 224,040 shares of the company’s stock valued at $3,927,000 after acquiring an additional 8,631 shares in the last quarter.

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.