Abrdn Global Infrastructure Income Fund (NYSE:ASGI) Sees Significant Drop in Short Interest

Abrdn Global Infrastructure Income Fund (NYSE:ASGI) was the recipient of a significant decline in short interest during the month of July. As of July 15th, there was short interest totalling 48,300 shares, a decline of 35.5% from the June 30th total of 74,900 shares. Based on an average daily volume of 111,100 shares, the short-interest ratio is presently 0.4 days.

Insiders Place Their Bets

In other Abrdn Global Infrastructure Income Fund news, major shareholder Saba Capital Management, L.P. purchased 15,465 shares of Abrdn Global Infrastructure Income Fund stock in a transaction that occurred on Friday, May 3rd. The shares were bought at an average price of $17.77 per share, for a total transaction of $274,813.05. Following the acquisition, the insider now directly owns 2,905,175 shares in the company, valued at $51,624,959.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders bought a total of 43,718 shares of company stock valued at $767,233 over the last 90 days.

Institutional Investors Weigh In On Abrdn Global Infrastructure Income Fund

Institutional investors have recently bought and sold shares of the business. Karpus Management Inc. lifted its stake in Abrdn Global Infrastructure Income Fund by 5.0% in the fourth quarter. Karpus Management Inc. now owns 648,533 shares of the company’s stock worth $11,635,000 after purchasing an additional 30,971 shares during the last quarter. Quantedge Capital Pte Ltd grew its holdings in Abrdn Global Infrastructure Income Fund by 30.7% in the fourth quarter. Quantedge Capital Pte Ltd now owns 26,840 shares of the company’s stock worth $482,000 after purchasing an additional 6,300 shares during the last quarter. Cornerstone Advisors LLC lifted its stake in shares of Abrdn Global Infrastructure Income Fund by 24.5% during the fourth quarter. Cornerstone Advisors LLC now owns 275,873 shares of the company’s stock worth $4,949,000 after buying an additional 54,240 shares during the period. Blue Bell Private Wealth Management LLC acquired a new stake in shares of Abrdn Global Infrastructure Income Fund during the first quarter worth $568,000. Finally, Matisse Capital acquired a new position in Abrdn Global Infrastructure Income Fund during the fourth quarter valued at $708,000.

Abrdn Global Infrastructure Income Fund Price Performance

Shares of NYSE ASGI traded up $0.13 during midday trading on Monday, hitting $18.44. 146,118 shares of the stock traded hands, compared to its average volume of 95,732. The firm has a 50-day moving average of $18.72 and a two-hundred day moving average of $17.98. Abrdn Global Infrastructure Income Fund has a one year low of $14.96 and a one year high of $19.56.

Abrdn Global Infrastructure Income Fund Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 24th will be paid a $0.20 dividend. The ex-dividend date is Wednesday, July 24th. This represents a $2.40 annualized dividend and a dividend yield of 13.02%.

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.