Short Interest in Abrdn Global Infrastructure Income Fund (NYSE:ASGI) Grows By 66.0%
by Tristan Rich · The Markets DailyAbrdn Global Infrastructure Income Fund (NYSE:ASGI – Get Free Report) saw a significant growth in short interest during the month of July. As of July 15th, there was short interest totaling 463,368 shares, a growth of 66.0% from the June 30th total of 279,124 shares. Based on an average daily volume of 162,208 shares, the short-interest ratio is presently 2.9 days.
Hedge Funds Weigh In On Abrdn Global Infrastructure Income Fund
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ASGI. Fifth Third Bancorp grew its position in shares of Abrdn Global Infrastructure Income Fund by 816,720.0% in the first quarter. Fifth Third Bancorp now owns 122,523 shares of the company’s stock valued at $2,740,000 after purchasing an additional 122,508 shares during the last quarter. Evolve Private Wealth LLC acquired a new position in shares of Abrdn Global Infrastructure Income Fund during the 4th quarter worth approximately $1,821,000. Equitable Holdings Inc. lifted its stake in Abrdn Global Infrastructure Income Fund by 13.1% in the 3rd quarter. Equitable Holdings Inc. now owns 630,412 shares of the company’s stock valued at $13,321,000 after buying an additional 73,221 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in Abrdn Global Infrastructure Income Fund by 52.9% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 142,637 shares of the company’s stock valued at $3,316,000 after buying an additional 49,339 shares in the last quarter. Finally, Closed End Fund Advisors Inc. acquired a new stake in Abrdn Global Infrastructure Income Fund during the 4th quarter valued at $1,022,000.
Abrdn Global Infrastructure Income Fund Trading Up 0.4%
Shares of ASGI stock traded up $0.10 during mid-day trading on Friday, reaching $23.93. The stock had a trading volume of 94,862 shares, compared to its average volume of 200,154. Abrdn Global Infrastructure Income Fund has a 12-month low of $20.01 and a 12-month high of $25.95. The business has a 50-day simple moving average of $23.26 and a 200 day simple moving average of $23.43.
Abrdn Global Infrastructure Income Fund Cuts Dividend
The firm also recently disclosed a monthly dividend, which was paid on Friday, July 31st. Investors of record on Thursday, July 23rd were paid a $0.22 dividend. This represents a c) dividend on an annualized basis and a yield of 11.0%. The ex-dividend date of this dividend was Thursday, July 23rd.
About Abrdn Global Infrastructure Income Fund
Abrdn Global Infrastructure Income Fund (NYSE: ASGI) is a closed-end management investment company that seeks to deliver both current income and potential capital appreciation by investing in a diversified portfolio of global infrastructure securities. The fund provides investors with exposure to companies and projects that operate essential infrastructure assets such as utilities, energy networks, transportation systems, and communications facilities. Shares of ASGI trade on the New York Stock Exchange, offering market-based liquidity for investors seeking infrastructure income strategies.
The fund’s investment approach combines equity and debt instruments issued by infrastructure issuers in developed and select emerging markets.