Abrdn Global Infrastructure Income Fund (NYSE:ASGI) Stock Price Up 1.2% – What’s Next?

Abrdn Global Infrastructure Income Fund (NYSE:ASGI)’s stock price shot up 1.2% during trading on Wednesday . The company traded as high as $18.01 and last traded at $17.91. 153,784 shares traded hands during mid-day trading, a decline of 37% from the average session volume of 243,704 shares. The stock had previously closed at $17.70.

Abrdn Global Infrastructure Income Fund Stock Down 0.2 %

The business’s fifty day moving average is $18.07 and its 200 day moving average is $19.03.

Abrdn Global Infrastructure Income Fund Cuts Dividend

The firm also recently disclosed a monthly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 24th were paid a $0.20 dividend. The ex-dividend date was Friday, January 24th. This represents a $2.40 dividend on an annualized basis and a yield of 13.49%.

Insider Transactions at Abrdn Global Infrastructure Income Fund

In other Abrdn Global Infrastructure Income Fund news, major shareholder Saba Capital Management, L.P. sold 16,188 shares of the firm’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $19.78, for a total transaction of $320,198.64. Following the sale, the insider now owns 2,660,787 shares in the company, valued at $52,630,366.86. This trade represents a 0.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Thomas W. Hunersen purchased 5,000 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were purchased at an average cost of $17.67 per share, with a total value of $88,350.00. Following the purchase, the director now owns 6,000 shares of the company’s stock, valued at approximately $106,020. The trade was a 500.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 181,523 shares of company stock valued at $3,580,177 over the last three months.

Institutional Trading of Abrdn Global Infrastructure Income Fund

A number of hedge funds have recently bought and sold shares of the company. Penserra Capital Management LLC purchased a new position in shares of Abrdn Global Infrastructure Income Fund in the third quarter valued at about $14,453,000. International Assets Investment Management LLC bought a new stake in shares of Abrdn Global Infrastructure Income Fund in the third quarter worth about $5,175,000. Raymond James Financial Inc. purchased a new position in Abrdn Global Infrastructure Income Fund during the 4th quarter valued at about $1,635,000. Old Port Advisors bought a new position in Abrdn Global Infrastructure Income Fund during the 3rd quarter valued at approximately $1,885,000. Finally, Capital Investment Advisors LLC purchased a new stake in Abrdn Global Infrastructure Income Fund in the 3rd quarter worth approximately $1,584,000.

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.