abrdn Global Income Fund, Inc. (NYSEAMERICAN:FCO) Short Interest Up 34.9% in October

abrdn Global Income Fund, Inc. (NYSEAMERICAN:FCO) saw a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 128,700 shares, an increase of 34.9% from the October 15th total of 95,400 shares. Based on an average daily volume of 50,600 shares, the days-to-cover ratio is presently 2.5 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of FCO. Wells Fargo & Company MN boosted its holdings in abrdn Global Income Fund by 5.7% during the second quarter. Wells Fargo & Company MN now owns 541,449 shares of the company’s stock valued at $3,227,000 after purchasing an additional 28,968 shares in the last quarter. Bank of America Corp DE boosted its stake in abrdn Global Income Fund by 9.9% in the 1st quarter. Bank of America Corp DE now owns 78,441 shares of the company’s stock valued at $481,000 after buying an additional 7,087 shares in the last quarter. NewEdge Advisors LLC grew its position in abrdn Global Income Fund by 9.4% in the first quarter. NewEdge Advisors LLC now owns 76,000 shares of the company’s stock valued at $466,000 after acquiring an additional 6,500 shares during the period. Morgan Stanley raised its stake in abrdn Global Income Fund by 9.6% during the fourth quarter. Morgan Stanley now owns 60,342 shares of the company’s stock worth $291,000 after acquiring an additional 5,270 shares in the last quarter. Finally, Osaic Holdings Inc. raised its stake in abrdn Global Income Fund by 817.3% during the second quarter. Osaic Holdings Inc. now owns 49,523 shares of the company’s stock worth $295,000 after acquiring an additional 44,124 shares in the last quarter. 7.09% of the stock is owned by institutional investors.

abrdn Global Income Fund Price Performance

NYSEAMERICAN:FCO remained flat at $5.91 during trading hours on Wednesday. 8,036 shares of the company traded hands, compared to its average volume of 56,733. abrdn Global Income Fund has a 1 year low of $4.48 and a 1 year high of $6.49.

abrdn Global Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Wednesday, November 22nd will be issued a dividend of $0.07 per share. This represents a $0.84 annualized dividend and a dividend yield of 14.21%. The ex-dividend date is Tuesday, November 21st.

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.