Creekmur Asset Management LLC Reduces Position in Abrdn Asia-Pacific Income Fund Inc (NYSEAMERICAN:FAX)

Creekmur Asset Management LLC reduced its stake in Abrdn Asia-Pacific Income Fund Inc (NYSEAMERICAN:FAX) by 60.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 63,876 shares of the investment management company’s stock after selling 96,244 shares during the quarter. Creekmur Asset Management LLC’s holdings in Abrdn Asia-Pacific Income Fund were worth $179,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Ironsides Asset Advisors LLC raised its holdings in Abrdn Asia-Pacific Income Fund by 9.6% in the 1st quarter. Ironsides Asset Advisors LLC now owns 80,862 shares of the investment management company’s stock valued at $226,000 after acquiring an additional 7,075 shares during the last quarter. J.W. Cole Advisors Inc. increased its stake in Abrdn Asia-Pacific Income Fund by 4.0% in the first quarter. J.W. Cole Advisors Inc. now owns 183,748 shares of the investment management company’s stock valued at $514,000 after purchasing an additional 7,085 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in Abrdn Asia-Pacific Income Fund by 9.9% in the first quarter. Janney Montgomery Scott LLC now owns 108,223 shares of the investment management company’s stock valued at $303,000 after purchasing an additional 9,766 shares during the last quarter. Koshinski Asset Management Inc. purchased a new position in Abrdn Asia-Pacific Income Fund during the first quarter worth about $30,000. Finally, Sar Wealth Management Group LLC acquired a new stake in Abrdn Asia-Pacific Income Fund in the 4th quarter worth about $31,000. Hedge funds and other institutional investors own 33.55% of the company’s stock.

Abrdn Asia-Pacific Income Fund Stock Up 0.5 %

FAX stock traded up $0.02 on Wednesday, hitting $2.80. 1,126,363 shares of the company were exchanged, compared to its average volume of 851,254. Abrdn Asia-Pacific Income Fund Inc has a twelve month low of $2.33 and a twelve month high of $2.86.

Abrdn Asia-Pacific Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 24th will be paid a $0.0275 dividend. This represents a $0.33 annualized dividend and a dividend yield of 11.81%. The ex-dividend date of this dividend is Wednesday, July 24th.

Abrdn Asia-Pacific Income Fund 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.