abrdn Asia-Pacific Income Fund (NYSEAMERICAN:FAX) Sets New 12-Month Low – What’s Next?

by · The Markets Daily

abrdn Asia-Pacific Income Fund, Inc. (NYSEAMERICAN:FAX – Get Free Report)’s share price hit a new 52-week low during mid-day trading on Wednesday. The stock traded as low as $13.68 and last traded at $13.6690, with a volume of 42331 shares. The stock had previously closed at $13.93.

abrdn Asia-Pacific Income Fund Price Performance

The business’s fifty day simple moving average is $14.42 and its 200-day simple moving average is $14.61.

abrdn Asia-Pacific Income Fund Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 22nd will be issued a dividend of $0.15 per share. This is a drop from abrdn Asia-Pacific Income Fund’s previous monthly dividend of $0.1650. This represents a $1.80 dividend on an annualized basis and a dividend yield of 13.3%. The ex-dividend date is Tuesday, September 22nd.

Institutional Trading of abrdn Asia-Pacific Income Fund

Several large investors have recently added to or reduced their stakes in FAX. TD Waterhouse Canada Inc. purchased a new position in abrdn Asia-Pacific Income Fund during the 2nd quarter valued at $43,000. CoreCap Advisors LLC purchased a new position in shares of abrdn Asia-Pacific Income Fund during the second quarter valued at about $77,000. Maridea Wealth Management LLC purchased a new position in shares of abrdn Asia-Pacific Income Fund during the first quarter valued at about $217,000. Moors & Cabot Inc. raised its stake in 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. Finally, Fisher Asset Management LLC lifted its holdings in abrdn Asia-Pacific Income Fund by 11.6% in the fourth quarter. Fisher Asset Management LLC now owns 17,431 shares of the investment management company’s stock worth $267,000 after buying an additional 1,815 shares during the period. Institutional investors own 33.55% of the company’s stock.

About abrdn Asia-Pacific Income Fund

(Get Free Report)

abrdn Asia-Pacific Income Fund (NYSE American: FAX) is a closed-end investment fund managed by abrdn. 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, emerging-market debt and other income-producing securities denominated in local or foreign currencies.

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