abrdn Asia-Pacific Income Fund (NYSEAMERICAN:FAX) Hits New 52-Week Low – Here’s What Happened

Shares of abrdn Asia-Pacific Income Fund, Inc. (NYSEAMERICAN:FAX) reached a new 52-week low during mid-day trading on Wednesday. The stock traded as low as $12.57 and last traded at $12.5850, with a volume of 87,227 shares changing hands. The stock had previously closed at $12.81.

abrdn Asia-Pacific Income Fund Trading Up 1.4%

The company’s fifty day moving average price is $13.96 and its 200-day moving average price is $14.39.

abrdn Asia-Pacific Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, October 30th. Investors of record on Friday, October 23rd will be given a dividend of $0.15 per share. This represents a $1.80 dividend on an annualized basis and a yield of 14.0%. The ex-dividend date of this dividend is Friday, October 23rd.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada grew its stake in shares of abrdn Asia-Pacific Income Fund by 8.0% in the first quarter. Royal Bank of Canada now owns 701,399 shares of the investment management company’s stock worth $10,114,000 after acquiring an additional 51,803 shares during the last quarter. Rareview Capital LLC increased its holdings in shares of abrdn Asia-Pacific Income Fund by 9.7% during the second quarter. Rareview Capital LLC now owns 263,270 shares of the investment management company’s stock valued at $4,191,000 after acquiring an additional 23,236 shares in the last quarter. Cetera Investment Advisers raised its position in shares of abrdn Asia-Pacific Income Fund by 3.7% in the 1st quarter. Cetera Investment Advisers now owns 241,711 shares of the investment management company’s stock worth $3,485,000 after purchasing an additional 8,650 shares during the last quarter. Shaker Financial Services LLC purchased a new position in shares of abrdn Asia-Pacific Income Fund in the 3rd quarter worth about $2,028,000. Finally, NWF Advisory Services Inc. raised its position in shares of abrdn Asia-Pacific Income Fund by 3.7% in the 4th quarter. NWF Advisory Services Inc. now owns 100,648 shares of the investment management company’s stock worth $1,544,000 after purchasing an additional 3,618 shares during the last quarter. Hedge funds and other institutional investors own 33.55% of the company’s stock.

About abrdn Asia-Pacific Income Fund

abrdn Asia-Pacific Income Fund, Inc is a closed-end investment company listed on the NYSE American under the symbol FAX. The fund seeks to provide current income and, secondarily, capital appreciation by investing primarily in fixed-income securities issued by governments, government-related entities and companies in the Asia-Pacific region.

The fund’s portfolio may include sovereign and corporate bonds, notes and other debt instruments denominated in local or foreign currencies. Its investment exposure can span developed and emerging markets across Asia and the Pacific, including countries such as Australia, China, India, Indonesia, South Korea, Malaysia, New Zealand, the Philippines, Singapore and Thailand.