Abrdn Asia-Pacific Income Fund (NYSEAMERICAN:FAX) Reaches New 52-Week Low – What’s Next?

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

Abrdn Asia-Pacific Income Fund Price Performance

Abrdn Asia-Pacific Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, January 10th. Shareholders of record on Monday, December 30th will be given a dividend of $0.165 per share. The ex-dividend date of this dividend is Monday, December 30th. This represents a $1.98 annualized dividend and a dividend yield of 13.23%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of FAX. EP Wealth Advisors LLC lifted its stake in Abrdn Asia-Pacific Income Fund by 792.8% in the third quarter. EP Wealth Advisors LLC now owns 1,047,760 shares of the investment management company’s stock valued at $18,231,000 after purchasing an additional 930,402 shares during the last quarter. Evergreen Capital Management LLC raised its position in shares of Abrdn Asia-Pacific Income Fund by 6.9% in the second quarter. Evergreen Capital Management LLC now owns 4,524,105 shares of the investment management company’s stock valued at $12,125,000 after purchasing an additional 293,929 shares during the period. PFG Investments LLC lifted its stake in shares of Abrdn Asia-Pacific Income Fund by 43.6% during the 2nd quarter. PFG Investments LLC now owns 357,157 shares of the investment management company’s stock valued at $957,000 after buying an additional 108,402 shares in the last quarter. Benjamin Edwards Inc. purchased a new position in Abrdn Asia-Pacific Income Fund in the 3rd quarter valued at approximately $1,398,000. Finally, Creekside Partners bought a new stake in Abrdn Asia-Pacific Income Fund during the 2nd quarter valued at $154,000. Hedge funds and other institutional investors 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.