Welcome to our dedicated page for abrdn National Municipal Income Fund news (Ticker: VFL), a resource for investors and traders seeking the latest updates and insights on abrdn National Municipal Income Fund stock.
abrdn National Municipal Income Fund (NYSE American: VFL) is a reputable closed-end management investment company that aims to provide current income exempt from regular federal income tax. Managed by abrdn Inc., the Fund focuses on preserving capital for its investors by investing in high-quality municipal bonds. The Fund has a diverse portfolio including mutual funds, exchange-traded funds, private markets, Delaware Funds by Macquarie Premier Models, managed accounts, closed-end funds, and variable insurance products.
Since abrdn took over the management on July 7, 2023, the Fund has shifted towards higher-yielding securities while reducing its exposure to below-investment-grade securities. This strategic move has enhanced the Fund's monthly earnings and improved the credit quality of its portfolio. In a recent performance report, the Fund ranked in the top quintile within the US closed-end high-yield Morningstar category over the last three months, placing 5th out of 24 funds in its peer group as of November 30, 2023.
On December 14, 2023, abrdn National Municipal Income Fund announced a significant increase in its monthly distribution by 15%, from $0.0325 per share to $0.0375 per share, effective January 31, 2024. This decision reflects the Fund’s enhanced financial condition and commitment to providing sustainable income to its shareholders. Based on the NAV of $11.46 as of November 30, 2023, the distribution rate increased from 3.4% to 3.9%. Similarly, with a share price of $9.51, the share price distribution rate rose from 4.1% to 4.7%.
The Fund distributes a portion of its net investment income monthly to common shareholders, aimed at reducing its current discount to NAV. However, it is important to note that past performance does not guarantee future results. Investment returns and principal values will fluctuate, and shares may be worth more or less than their original cost when sold. Shareholders will receive a Form 1099-DIV at the end of each calendar year, detailing the amount and composition of distributions for accurate tax reporting.
With a well-rounded investment approach, abrdn National Municipal Income Fund remains a significant player in delivering tax-exempt income while focusing on capital preservation. Investors seeking reliable performance and consistent distributions may find this Fund an attractive option.
abrdn National Municipal Income Fund (NYSE American: VFL) has announced a 10% increase in its monthly distribution from $0.045 to $0.05 per share, effective September 30, 2024. This change raises the Fund's NAV distribution rate from 4.4% to 4.9% and the share price distribution rate from 4.9% to 5.4%. Since abrdn assumed management in July 2023, the distribution has increased by approximately 54%.
Additionally, the Fund's Board has authorized an open market share repurchase program, allowing the repurchase of up to 10% of outstanding shares in any 12-month period. This program aims to improve market liquidity and potentially increase per share NAV for long-term shareholders. The Fund seeks to provide current income exempt from regular federal income tax while preserving capital by investing in municipal bonds.
Delaware Investments National Municipal Income Fund (NYSE American: VFL) has declared a monthly distribution of $0.0450 per share, payable on April 28, 2023. Shareholders of record will be noted at the close of business on April 21, 2023, with the ex-dividend date set for April 20, 2023. The fund aims to provide income exempt from federal taxes while preserving capital, using leveraged techniques for potentially higher returns. It currently utilizes variable-rate preferred shares for leverage. However, there are no assurances that investment objectives will be met.
The Delaware Investments National Municipal Income Fund (AMEX: VFL) held a Special Meeting of Shareholders on March 8, 2023, where shareholders approved two key proposals. The first proposal was a new investment management agreement with abrdn Inc., receiving 5,453,641 votes in favor against 384,244 opposed. The second proposal involved the election of four new trustees from existing abrdn funds, which garnered substantial support, with 7,579,827 votes for one trustee. The Fund's adoption is expected to finalize around June 9, 2023, pending customary closing conditions. As of December 22, 2022, the Fund had 12,278,003.15 common shares outstanding.
FAQ
What is the current stock price of abrdn National Municipal Income Fund (VFL)?
What is the market cap of abrdn National Municipal Income Fund (VFL)?
What is the primary objective of the abrdn National Municipal Income Fund?
How often does the abrdn National Municipal Income Fund distribute income to shareholders?
What recent changes were announced regarding the Fund's monthly distribution?
How has the Fund's management strategy changed since abrdn took over?
What types of securities does the Fund invest in?
How does the Fund's performance compare to its peers?
What should shareholders consider regarding the Fund's investment performance?
Will shareholders receive tax information for their distributions?
How can investors contact abrdn U.S. Closed-End Funds for more information?
Where are closed-end funds like abrdn National Municipal Income Fund traded?
