Short Interest in Abrdn Global Infrastructure Income Fund (NYSE:ASGI) Rises By 12.3%

Abrdn Global Infrastructure Income Fund (NYSE:ASGI) saw a significant increase in short interest in the month of September. As of September 15th, there was short interest totalling 318,300 shares, an increase of 12.3% from the August 31st total of 283,400 shares. Based on an average daily trading volume, of 144,700 shares, the days-to-cover ratio is currently 2.2 days.

Insider Activity at Abrdn Global Infrastructure Income Fund

In other Abrdn Global Infrastructure Income Fund news, major shareholder Saba Capital Management, L.P. purchased 41,344 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The stock was purchased at an average price of $19.32 per share, for a total transaction of $798,766.08. Following the purchase, the insider now directly owns 2,957,749 shares in the company, valued at $57,143,710.68. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Sanctuary Advisors LLC acquired a new stake in Abrdn Global Infrastructure Income Fund during the second quarter worth $1,228,000. Karpus Management Inc. increased its position in shares of Abrdn Global Infrastructure Income Fund by 5.0% during the 4th quarter. Karpus Management Inc. now owns 648,533 shares of the company’s stock worth $11,635,000 after purchasing an additional 30,971 shares during the last quarter. Stifel Financial Corp raised its holdings in Abrdn Global Infrastructure Income Fund by 6.1% in the 4th quarter. Stifel Financial Corp now owns 441,289 shares of the company’s stock valued at $7,917,000 after buying an additional 25,362 shares during the period. Whittier Trust Co. acquired a new position in Abrdn Global Infrastructure Income Fund in the first quarter valued at about $133,000. Finally, Blue Bell Private Wealth Management LLC boosted its stake in Abrdn Global Infrastructure Income Fund by 22.6% during the second quarter. Blue Bell Private Wealth Management LLC now owns 39,256 shares of the company’s stock worth $718,000 after buying an additional 7,249 shares during the period.

Abrdn Global Infrastructure Income Fund Stock Up 1.0 %

Shares of ASGI traded up $0.20 during trading hours on Friday, hitting $20.06. 138,632 shares of the stock were exchanged, compared to its average volume of 101,868. Abrdn Global Infrastructure Income Fund has a 12-month low of $14.96 and a 12-month high of $20.24. The stock’s 50-day moving average price is $19.30 and its two-hundred day moving average price is $18.57.

Abrdn Global Infrastructure Income Fund Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 20th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, September 20th. This represents a $2.52 dividend on an annualized basis and a yield of 12.56%. This is a positive change from Abrdn Global Infrastructure Income Fund’s previous monthly dividend of $0.20.

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.