Abrdn Global Infrastructure Income Fund (NYSE:ASGI) Shares Down 0.7% – What’s Next?

by · The Markets Daily

Abrdn Global Infrastructure Income Fund (NYSE:ASGI – Get Free Report)’s share price dropped 0.7% on Wednesday . The company traded as low as $22.98 and last traded at $23.0760. Approximately 162,828 shares were traded during trading, a decline of 18% from the average session volume of 198,324 shares. The stock had previously closed at $23.25.

Abrdn Global Infrastructure Income Fund Price Performance

The business’s 50-day simple moving average is $23.28 and its 200 day simple moving average is $23.19.

Abrdn Global Infrastructure Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd were issued a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, June 23rd. This represents a c) annualized dividend and a dividend yield of 11.9%.

Insider Buying and Selling

In related news, Director Alan R. Goodson sold 4,300 shares of the company’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $23.86, for a total transaction of $102,598.00. Following the completion of the sale, the director owned 657 shares in the company, valued at approximately $15,676.02. This represents a 86.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Geneos Wealth Management Inc. lifted its stake in shares of Abrdn Global Infrastructure Income Fund by 147.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 2,152 shares of the company’s stock worth $40,000 after purchasing an additional 1,284 shares during the period. Ascentis Independent Advisors bought a new stake in Abrdn Global Infrastructure Income Fund during the first quarter valued at approximately $41,000. Brown Brothers Harriman & Co. increased its holdings in Abrdn Global Infrastructure Income Fund by 114.5% during the third quarter. Brown Brothers Harriman & Co. now owns 2,031 shares of the company’s stock valued at $43,000 after buying an additional 1,084 shares during the last quarter. Allworth Financial LP increased its holdings in Abrdn Global Infrastructure Income Fund by 44.3% during the fourth quarter. Allworth Financial LP now owns 2,164 shares of the company’s stock valued at $48,000 after buying an additional 664 shares during the last quarter. Finally, Eagle Bay Advisors LLC bought a new position in Abrdn Global Infrastructure Income Fund in the fourth quarter worth approximately $50,000.

About Abrdn Global Infrastructure Income Fund

(Get Free Report)

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.

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