abrdn Asia-Pacific Income Fund (NYSEAMERICAN:FAX) Share Price Passes Below Fifty Day Moving Average – Here’s Why

abrdn Asia-Pacific Income Fund, Inc. (NYSEAMERICAN:FAX) shares passed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $14.75 and traded as low as $14.22. abrdn Asia-Pacific Income Fund shares last traded at $14.30, with a volume of 200,800 shares traded.

abrdn Asia-Pacific Income Fund Trading Down 0.8%

The firm has a fifty day moving average price of $14.75 and a 200 day moving average price of $15.21.

abrdn Asia-Pacific Income Fund Announces Dividend

The business also recently declared a monthly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 22nd were issued a dividend of $0.165 per share. This represents a c) annualized dividend and a dividend yield of 13.8%. The ex-dividend date was Friday, May 22nd.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Jane Street Group LLC purchased a new position in abrdn Asia-Pacific Income Fund in the first quarter worth approximately $170,000. Ameriprise Financial Inc. purchased a new stake in abrdn Asia-Pacific Income Fund in the 3rd quarter valued at about $189,000. Corient Private Wealth LLC purchased a new stake in abrdn Asia-Pacific Income Fund in the 4th quarter valued at about $180,000. Cullen Frost Bankers Inc. raised its holdings in abrdn Asia-Pacific Income Fund by 5.6% in the 4th quarter. Cullen Frost Bankers Inc. now owns 12,866 shares of the investment management company’s stock valued at $197,000 after buying an additional 683 shares during the period. Finally, Landscape Capital Management L.L.C. purchased a new stake in abrdn Asia-Pacific Income Fund in the 4th quarter valued at about $227,000. 33.55% of the stock is currently owned by hedge funds and other institutional investors.

About abrdn Asia-Pacific Income Fund

The abrdn Asia-Pacific Income Fund is a closed-end management investment company listed on the NYSE American under the ticker FAX. The fund seeks to provide total return by focusing primarily on current income and secondarily on capital appreciation through a diversified portfolio of Asia-Pacific securities.

Its investment portfolio is concentrated in dividend-paying equity securities of companies domiciled or operating in the Asia-Pacific region, excluding Japan. The fund may invest in common stocks, real estate investment trusts (REITs), depositary receipts, convertible securities and derivatives.