abrdn National Municipal Income Fund (NYSE:VFL) Trading 0.6% Higher – Here’s What Happened

abrdn National Municipal Income Fund (NYSE:VFL)’s stock price was up 0.6% during trading on Tuesday . The stock traded as high as $10.39 and last traded at $10.39. Approximately 15,721 shares changed hands during trading, a decline of 52% from the average daily volume of 32,715 shares. The stock had previously closed at $10.33.

abrdn National Municipal Income Fund Price Performance

The stock has a fifty day simple moving average of $10.21 and a two-hundred day simple moving average of $10.05.

abrdn National Municipal Income Fund Announces Dividend

The company also recently announced a monthly dividend, which was paid on Friday, January 30th. Stockholders of record on Friday, January 23rd were paid a $0.05 dividend. The ex-dividend date was Friday, January 23rd. This represents a c) annualized dividend and a dividend yield of 5.8%.

Institutional Investors Weigh In On abrdn National Municipal Income Fund

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Financial Gravity Companies Inc. purchased a new position in abrdn National Municipal Income Fund in the 2nd quarter valued at about $46,000. Raymond James Financial Inc. acquired a new position in shares of abrdn National Municipal Income Fund in the second quarter worth about $69,000. Wolverine Asset Management LLC acquired a new position in shares of abrdn National Municipal Income Fund in the second quarter worth about $77,000. Traub Capital Management LLC purchased a new position in abrdn National Municipal Income Fund in the second quarter valued at about $121,000. Finally, River Street Advisors LLC acquired a new stake in abrdn National Municipal Income Fund during the 4th quarter valued at approximately $122,000.

abrdn National Municipal Income Fund Company Profile

abrdn National Municipal Income Fund (NYSE: VFL) is a diversified, closed-end management investment company that seeks to provide shareholders with a high level of current income exempt from federal income taxes. The fund primarily invests in a portfolio of municipal securities, including general obligation bonds, revenue bonds and other debt obligations issued by state and local governments across the United States.

The fund’s investment strategy emphasizes a combination of bottom-up credit research and sector allocation to build a tax-exempt portfolio.