abrdn National Municipal Income Fund (NYSE:VFL) Shares Down 0.6% – Time to Sell?

abrdn National Municipal Income Fund (NYSE:VFL)’s share price traded down 0.6% during trading on Friday . The company traded as low as $10.30 and last traded at $10.31. 29,736 shares changed hands during mid-day trading, a decline of 13% from the average session volume of 34,027 shares. The stock had previously closed at $10.37.

abrdn National Municipal Income Fund Stock Down 0.6%

The firm has a fifty day simple moving average of $10.24 and a 200-day simple moving average of $10.22.

abrdn National Municipal Income Fund Cuts Dividend

The firm also recently declared a monthly dividend, which was paid on Tuesday, July 7th. Investors of record on Monday, June 29th were given a $0.024 dividend. The ex-dividend date of this dividend was Monday, June 29th. This represents a c) annualized dividend and a yield of 2.8%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in VFL. Raymond James Financial Inc. bought a new stake in shares of abrdn National Municipal Income Fund during the second quarter worth about $69,000. Van ECK Associates Corp lifted its position in abrdn National Municipal Income Fund by 6.1% in the 3rd quarter. Van ECK Associates Corp now owns 90,634 shares of the company’s stock valued at $930,000 after acquiring an additional 5,185 shares in the last quarter. Pathstone Holdings LLC boosted its stake in abrdn National Municipal Income Fund by 24.9% during the 3rd quarter. Pathstone Holdings LLC now owns 224,322 shares of the company’s stock valued at $2,302,000 after purchasing an additional 44,665 shares during the last quarter. Williams Jones Wealth Management LLC. acquired a new position in abrdn National Municipal Income Fund during the 3rd quarter valued at about $130,000. Finally, NewEdge Advisors LLC bought a new stake in abrdn National Municipal Income Fund during the 3rd quarter worth approximately $202,000.

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.