Abrdn Asia-Pacific Income Fund (NYSEAMERICAN:FAX) Reaches New 1-Year Low – What’s Next?

Abrdn Asia-Pacific Income Fund Inc (NYSEAMERICAN:FAX)’s share price reached a new 52-week low during trading on Tuesday . The company traded as low as $14.60 and last traded at $14.62, with a volume of 60446 shares traded. The stock had previously closed at $14.83.

Abrdn Asia-Pacific Income Fund Price Performance

Abrdn Asia-Pacific Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, January 10th. Stockholders of record on Monday, December 30th will be issued a dividend of $0.165 per share. This represents a $1.98 annualized dividend and a dividend yield of 13.50%. The ex-dividend date is Monday, December 30th.

Hedge Funds Weigh In On Abrdn Asia-Pacific Income Fund

Several hedge funds and other institutional investors have recently modified their holdings of FAX. Sanctuary Advisors LLC acquired a new position in Abrdn Asia-Pacific Income Fund during the 2nd quarter worth $142,000. Shaker Financial Services LLC acquired a new stake in Abrdn Asia-Pacific Income Fund in the third quarter worth about $516,000. Evergreen Capital Management LLC grew its position in Abrdn Asia-Pacific Income Fund by 6.9% in the 2nd quarter. Evergreen Capital Management LLC now owns 4,524,105 shares of the investment management company’s stock valued at $12,125,000 after buying an additional 293,929 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Abrdn Asia-Pacific Income Fund by 34.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 38,592 shares of the investment management company’s stock valued at $103,000 after buying an additional 9,885 shares during the period. Finally, Creekside Partners bought a new stake in shares of Abrdn Asia-Pacific Income Fund during the 2nd quarter worth about $154,000. Institutional investors and hedge funds own 33.55% of the company’s stock.

Abrdn Asia-Pacific Income Fund Company Profile

Abrdn Asia-Pacific Income Fund Inc is a close ended fixed income mutual fund launched and managed by Aberdeen Standard Investments (Asia) Limited. It is co-managed by Aberdeen Standard Investments Australia Limited and Aberdeen Asset Managers Limited. The fund invests in fixed income markets of Asia, Australia, and New Zeland.