abrdn Global Income Fund (NYSEAMERICAN:FCO) Trading Up 1.6% – Here’s Why

abrdn Global Income Fund, Inc. (NYSEAMERICAN:FCO) rose 1.6% during trading on Wednesday . The company traded as high as $3.26 and last traded at $3.20. Approximately 127,816 shares traded hands during mid-day trading, a decline of 7% from the average daily volume of 138,146 shares. The stock had previously closed at $3.15.

abrdn Global Income Fund Trading Up 1.6%

The firm’s 50 day moving average is $3.15 and its 200 day moving average is $3.03.

abrdn Global Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 24th were given a dividend of $0.07 per share. This represents a c) dividend on an annualized basis and a dividend yield of 26.3%. The ex-dividend date was Tuesday, March 24th.

Institutional Investors Weigh In On abrdn Global Income Fund

Large investors have recently modified their holdings of the stock. Van Diest Capital LLC acquired a new stake in shares of abrdn Global Income Fund during the fourth quarter worth $74,000. Susquehanna International Group LLP boosted its position in shares of abrdn Global Income Fund by 167.1% in the 3rd quarter. Susquehanna International Group LLP now owns 53,629 shares of the company’s stock valued at $160,000 after purchasing an additional 33,547 shares during the period. Landscape Capital Management L.L.C. purchased a new position in abrdn Global Income Fund in the 3rd quarter worth about $47,000. Osaic Holdings Inc. increased its stake in abrdn Global Income Fund by 12.0% in the 2nd quarter. Osaic Holdings Inc. now owns 14,402 shares of the company’s stock worth $92,000 after purchasing an additional 1,547 shares in the last quarter. Finally, Envestnet Asset Management Inc. acquired a new stake in abrdn Global Income Fund during the 2nd quarter worth about $118,000. 10.79% of the stock is owned by institutional investors.

abrdn Global Income Fund Company Profile

abrdn Global Income Fund (NYSE American: FCO) is a closed-end management investment company that seeks to provide investors with high current income and the potential for capital appreciation. Managed by abrdn’s global investment team, the fund pursues a diversified strategy across both fixed-income and equity markets. It is structured to deliver monthly distributions by combining income-generating securities with active portfolio management and selective use of leverage.

The fund’s core holdings typically include a broad range of global corporate bonds, convertible securities, preferred stocks and high-yield credit.