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

Shares of abrdn National Municipal Income Fund (NYSE:VFL) rose 1.1% during mid-day trading on Thursday after the company announced a dividend. The company traded as high as $10.31 and last traded at $10.27. Approximately 35,536 shares changed hands during mid-day trading, a decline of 9% from the average daily 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. Investors of record on Tuesday, September 23rd will be issued a dividend of $0.05 per share. The ex-dividend date is Tuesday, September 23rd. This represents a c) dividend on an annualized basis and a dividend yield of 5.8%.

abrdn National Municipal Income Fund Trading Up 1.1%

The stock has a fifty day moving average of $9.63 and a 200-day moving average of $9.83.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Financial Gravity Companies Inc. bought a new position in shares of abrdn National Municipal Income Fund during the second quarter worth about $46,000. Financial Gravity Asset Management Inc. bought a new position in shares of abrdn National Municipal Income Fund during the first quarter worth about $48,000. Raymond James Financial Inc. acquired a new position in abrdn National Municipal Income Fund during the second quarter valued at approximately $69,000. Wolverine Asset Management LLC acquired a new position in abrdn National Municipal Income Fund during the second quarter valued at approximately $77,000. Finally, Landscape Capital Management L.L.C. acquired a new position in abrdn National Municipal Income Fund during the first quarter valued at approximately $109,000.

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.