Abrdn Global Infrastructure Income Fund (NYSE:ASGI) Sees Large Increase in Short Interest

Abrdn Global Infrastructure Income Fund (NYSE:ASGI) was the recipient of a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 15,000 shares, a growth of 7.1% from the March 15th total of 14,000 shares. Based on an average daily volume of 81,800 shares, the days-to-cover ratio is currently 0.2 days.

Abrdn Global Infrastructure Income Fund Stock Up 0.8 %

Shares of NYSE ASGI opened at $16.74 on Thursday. Abrdn Global Infrastructure Income Fund has a twelve month low of $14.96 and a twelve month high of $18.55. The business has a fifty day simple moving average of $17.42 and a two-hundred day simple moving average of $17.09.

Abrdn Global Infrastructure Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, April 30th. Investors of record on Tuesday, April 23rd will be issued a $0.15 dividend. The ex-dividend date is Monday, April 22nd. This represents a $1.80 annualized dividend and a dividend yield of 10.75%.

Insider Activity

In related news, major shareholder Saba Capital Management, L.P. acquired 36,975 shares of the stock in a transaction on Tuesday, March 19th. The stock was bought at an average cost of $17.75 per share, with a total value of $656,306.25. Following the transaction, the insider now directly owns 2,597,659 shares in the company, valued at $46,108,447.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders purchased 114,257 shares of company stock valued at $2,006,137.

Institutional Trading of Abrdn Global Infrastructure Income Fund

A number of hedge funds have recently added to or reduced their stakes in the business. Raymond James & Associates increased its position in Abrdn Global Infrastructure Income Fund by 106.4% during the 1st quarter. Raymond James & Associates now owns 108,864 shares of the company’s stock valued at $2,194,000 after purchasing an additional 56,108 shares during the period. First Trust Advisors LP purchased a new position in Abrdn Global Infrastructure Income Fund during the first quarter valued at approximately $334,000. Quantedge Capital Pte Ltd raised its stake in Abrdn Global Infrastructure Income Fund by 44.1% in the first quarter. Quantedge Capital Pte Ltd now owns 16,000 shares of the company’s stock worth $322,000 after buying an additional 4,900 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in Abrdn Global Infrastructure Income Fund by 1.4% during the first quarter. Lazard Asset Management LLC now owns 210,727 shares of the company’s stock worth $4,246,000 after buying an additional 2,966 shares during the period. Finally, UBS Group AG lifted its holdings in Abrdn Global Infrastructure Income Fund by 0.7% during the first quarter. UBS Group AG now owns 441,035 shares of the company’s stock worth $8,886,000 after buying an additional 2,852 shares during the period.

Abrdn Global Infrastructure Income Fund Company Profile

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.