First Trust/Aberdeen Global Opportunity (NYSE:FAM) was the target of a significant increase in short interest in March. As of March 13th, there was short interest totalling 26,600 shares, an increase of 8,766.7% from the February 27th total of 300 shares. Based on an average daily trading volume, of 46,300 shares, the days-to-cover ratio is currently 0.6 days. Approximately 0.2% of the company’s stock are sold short.
NYSE:FAM opened at $8.95 on Friday. First Trust/Aberdeen Global Opportunity has a 52-week low of $7.68 and a 52-week high of $11.63. The stock has a 50-day simple moving average of $10.58 and a 200 day simple moving average of $10.93.
The company also recently disclosed a monthly dividend, which will be paid on Wednesday, April 15th. Investors of record on Thursday, April 2nd will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Wednesday, April 1st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 10.73%.
Several large investors have recently bought and sold shares of the stock. Winfield Associates Inc. grew its stake in First Trust/Aberdeen Global Opportunity by 6.1% in the fourth quarter. Winfield Associates Inc. now owns 19,740 shares of the financial services provider’s stock valued at $221,000 after purchasing an additional 1,135 shares in the last quarter. TFG Advisers LLC bought a new position in First Trust/Aberdeen Global Opportunity in the fourth quarter valued at approximately $26,000. FNY Investment Advisers LLC grew its stake in First Trust/Aberdeen Global Opportunity by 76.0% in the fourth quarter. FNY Investment Advisers LLC now owns 8,800 shares of the financial services provider’s stock valued at $98,000 after purchasing an additional 3,800 shares in the last quarter. UMA Financial Services Inc. bought a new position in First Trust/Aberdeen Global Opportunity in the third quarter valued at approximately $108,000. Finally, Saba Capital Management L.P. grew its stake in First Trust/Aberdeen Global Opportunity by 9.2% in the third quarter. Saba Capital Management L.P. now owns 278,391 shares of the financial services provider’s stock valued at $2,940,000 after purchasing an additional 23,558 shares in the last quarter.
First Trust/Aberdeen Global Opportunity Company Profile
First Trust/Aberdeen 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.
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