abrdn Asia-Pacific Income Fund (NYSEAMERICAN:FAX) Stock Crosses Below Two Hundred Day Moving Average – Here’s Why

abrdn Asia-Pacific Income Fund, Inc. (NYSEAMERICAN:FAX)’s stock price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $14.95 and traded as low as $14.40. abrdn Asia-Pacific Income Fund shares last traded at $14.53, with a volume of 182,034 shares trading hands.

abrdn Asia-Pacific Income Fund Stock Up 0.8%

The company’s fifty day moving average is $14.48 and its 200-day moving average is $14.95.

abrdn Asia-Pacific Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Friday, July 31st. Shareholders of record on Thursday, July 23rd were given a $0.165 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 13.6%. The ex-dividend date was Thursday, July 23rd.

Institutional Trading of abrdn Asia-Pacific Income Fund

Several institutional investors and hedge funds have recently modified their holdings of the company. Cullen Frost Bankers Inc. lifted its stake 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 worth $197,000 after purchasing an additional 683 shares in the last quarter. Kestra Advisory Services LLC grew its position in shares of abrdn Asia-Pacific Income Fund by 7.7% during the fourth quarter. Kestra Advisory Services LLC now owns 16,801 shares of the investment management company’s stock valued at $258,000 after purchasing an additional 1,204 shares in the last quarter. Rockefeller Capital Management L.P. increased its holdings in shares of abrdn Asia-Pacific Income Fund by 3.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 41,385 shares of the investment management company’s stock worth $635,000 after purchasing an additional 1,228 shares during the last quarter. Creative Planning increased its holdings in shares of abrdn Asia-Pacific Income Fund by 6.9% in the second quarter. Creative Planning now owns 21,167 shares of the investment management company’s stock worth $337,000 after purchasing an additional 1,364 shares during the last quarter. Finally, Moors & Cabot Inc. lifted its position in shares of abrdn Asia-Pacific Income Fund by 11.2% in the fourth quarter. Moors & Cabot Inc. now owns 17,015 shares of the investment management company’s stock worth $261,000 after buying an additional 1,709 shares in the last quarter. 33.55% of the stock is currently owned by 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.