abrdn Global Income Fund (NYSEAMERICAN:FCO) Trading Down 1.6% – Should You Sell?

abrdn Global Income Fund, Inc. (NYSEAMERICAN:FCO)’s stock price dropped 1.6% on Thursday . The company traded as low as $5.96 and last traded at $6.05. Approximately 108,493 shares traded hands during mid-day trading, an increase of 60% from the average daily volume of 67,856 shares. The stock had previously closed at $6.15.

abrdn Global Income Fund Stock Performance

abrdn Global Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Monday, March 31st. Shareholders of record on Tuesday, March 25th were issued a $0.07 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 13.88%. The ex-dividend date was Tuesday, March 25th.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in abrdn Global Income Fund stock. LPL Financial LLC purchased a new position in abrdn Global Income Fund, Inc. (NYSEAMERICAN:FCO) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 10,915 shares of the company’s stock, valued at approximately $64,000. LPL Financial LLC owned approximately 0.09% of abrdn Global Income Fund at the end of the most recent quarter. Institutional investors own 10.79% of the company’s stock.

About abrdn Global Income Fund

Abrdn Global Income Fund Inc is a closed-ended fixed income mutual fund launched and managed by Aberdeen Standard Investments (Asia) Limited. It is co-managed by Aberdeen Standard Investments Australia Limited and Aberdeen Asset Managers Limited. The fund invests in fixed income markets across the globe.