First Trust/Abrdn Global Opportunity Income Fund (NYSE:FAM) Stock Price Crosses Above 50 Day Moving Average – Should You Sell?

Shares of First Trust/Abrdn Global Opportunity Income Fund (NYSE:FAM) crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $6.45 and traded as high as $6.59. First Trust/Abrdn Global Opportunity Income Fund shares last traded at $6.51, with a volume of 67,600 shares trading hands.

First Trust/Abrdn Global Opportunity Income Fund Trading Down 1.1 %

The firm has a 50-day moving average of $6.46 and a two-hundred day moving average of $6.43.

First Trust/Abrdn Global Opportunity Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were issued a $0.06 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 11.06%.

Institutional Investors Weigh In On First Trust/Abrdn Global Opportunity Income Fund

Institutional investors have recently modified their holdings of the stock. Founders Financial Alliance LLC grew its position in First Trust/Abrdn Global Opportunity Income Fund by 17.6% in the second quarter. Founders Financial Alliance LLC now owns 24,746 shares of the financial services provider’s stock worth $157,000 after acquiring an additional 3,708 shares in the last quarter. Quarry LP raised its position in shares of First Trust/Abrdn Global Opportunity Income Fund by 8.1% during the second quarter. Quarry LP now owns 71,141 shares of the financial services provider’s stock valued at $451,000 after buying an additional 5,309 shares during the last quarter. ORG Partners LLC grew its position in First Trust/Abrdn Global Opportunity Income Fund by 39.0% during the second quarter. ORG Partners LLC now owns 29,772 shares of the financial services provider’s stock worth $188,000 after buying an additional 8,351 shares in the last quarter. Cetera Advisors LLC raised its holdings in First Trust/Abrdn Global Opportunity Income Fund by 170.3% in the 1st quarter. Cetera Advisors LLC now owns 43,250 shares of the financial services provider’s stock valued at $285,000 after acquiring an additional 27,251 shares in the last quarter. Finally, Shaker Financial Services LLC bought a new stake in shares of First Trust/Abrdn Global Opportunity Income Fund in the 2nd quarter worth approximately $191,000.

About First Trust/Abrdn Global Opportunity Income Fund

First Trust/Abrdn Global Opportunity Income Fund is a closed-ended fixed income mutual fund launched and managed by First Trust Advisors L.P. It is co-managed by Aberdeen Asset Management Inc The fund invests in the fixed income markets across the globe. It primarily invests in investment grade and below-investment grade government and corporate debt securities.