abrdn National Municipal Income Fund (NYSE: VFL) saw its share price fall by 1% on Thursday, closing at $9.72 after hitting a low of $9.69 during the day. Trading volume dropped to 25,435 shares, down 27% from the average of 34,648 shares per session. The stock had closed at $9.82 the previous day.
The fund’s 50-day moving average stands at $9.88, while its 200-day moving average is higher at $10.29.
Dividend Announcement
The fund declared a monthly dividend of $0.05 per share, payable on May 30 to shareholders of record as of May 22. This dividend translates to an annual yield of 6.17%, amounting to $0.60 per share annually.
Institutional Activity
Several institutional investors adjusted their holdings in the first quarter. Landscape Capital Management L.L.C. initiated a position valued at about $109,000. Thomas J. Herzfeld Advisors Inc. increased its stake by nearly 25%, now holding 31,321 shares worth $318,000. Ackerman Capital Advisors LLC raised its holdings by 31.2% to 18,170 shares valued at $184,000.
Blue Bell Private Wealth Management LLC added 6.8% more shares, totaling 41,368 shares worth $419,000. Financial Gravity Asset Management Inc. also entered with a new stake worth approximately $48,000.
Fund Overview
Managed by abrdn Inc., the abrdn National Municipal Income Fund is a closed-end mutual fund focused on U.S. fixed income markets. It invests primarily in investment-grade municipal bonds, whose income is generally exempt from federal income taxes. The fund aims to deliver current income while preserving capital by investing at least 80% of its net assets in municipal obligations issued by states, territories, or their political subdivisions.
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