abrdn Asia-Pacific Income Fund, Inc. $FAX Shares Acquired by Rareview Capital LLC

Rareview Capital LLC boosted its holdings in abrdn Asia-Pacific Income Fund, Inc. (NYSEAMERICAN:FAX) by 33.3% in the first quarter, HoldingsChannel reports. The firm owned 240,034 shares of the investment management company’s stock after purchasing an additional 59,937 shares during the period. abrdn Asia-Pacific Income Fund comprises about 2.2% of Rareview Capital LLC’s portfolio, making the stock its 13th largest holding. Rareview Capital LLC’s holdings in abrdn Asia-Pacific Income Fund were worth $3,821,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the business. Jane Street Group LLC purchased a new stake in abrdn Asia-Pacific Income Fund during the 1st quarter worth approximately $170,000. Corient Private Wealth LLC purchased a new position in shares of abrdn Asia-Pacific Income Fund during the 4th quarter valued at approximately $180,000. Ameriprise Financial Inc. purchased a new position in shares of abrdn Asia-Pacific Income Fund during the 3rd quarter valued at approximately $189,000. Cullen Frost Bankers Inc. grew its position in shares of abrdn Asia-Pacific Income Fund by 5.6% during the fourth quarter. Cullen Frost Bankers Inc. now owns 12,866 shares of the investment management company’s stock worth $197,000 after buying an additional 683 shares in the last quarter. Finally, Maridea Wealth Management LLC acquired a new stake in shares of abrdn Asia-Pacific Income Fund during the first quarter worth approximately $217,000. Institutional investors and hedge funds own 33.55% of the company’s stock.

abrdn Asia-Pacific Income Fund Stock Performance

Shares of NYSEAMERICAN:FAX opened at $14.56 on Friday. The company has a fifty day simple moving average of $14.62 and a 200 day simple moving average of $15.10. abrdn Asia-Pacific Income Fund, Inc. has a 12-month low of $14.13 and a 12-month high of $16.90.

abrdn Asia-Pacific Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 23rd were issued a dividend of $0.165 per share. This represents a c) annualized dividend and a yield of 13.6%. The ex-dividend date of this dividend was Tuesday, June 23rd.

abrdn Asia-Pacific Income Fund Profile

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.