Abrdn Asia-Pacific Income Fund (NYSEAMERICAN:FAX) Stock Passes Above 50 Day Moving Average – Here’s What Happened

Shares of Abrdn Asia-Pacific Income Fund Inc (NYSEAMERICAN:FAX) crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $0.00 and traded as high as $15.80. Abrdn Asia-Pacific Income Fund shares last traded at $15.72, with a volume of 98,414 shares trading hands.

Abrdn Asia-Pacific Income Fund Price Performance

Abrdn Asia-Pacific Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 21st will be paid a $0.165 dividend. This represents a $1.98 dividend on an annualized basis and a dividend yield of 12.60%. The ex-dividend date is Friday, February 21st.

Institutional Trading of Abrdn Asia-Pacific Income Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FAX. Pathstone Holdings LLC acquired a new stake in shares of Abrdn Asia-Pacific Income Fund during the 4th quarter worth approximately $13,626,000. Talon Private Wealth LLC bought a new position in Abrdn Asia-Pacific Income Fund in the 4th quarter valued at $258,000. Stifel Financial Corp raised its position in Abrdn Asia-Pacific Income Fund by 1.8% in the 4th quarter. Stifel Financial Corp now owns 83,317 shares of the investment management company’s stock valued at $1,226,000 after purchasing an additional 1,485 shares during the last quarter. Shaker Financial Services LLC raised its position in Abrdn Asia-Pacific Income Fund by 638.9% in the 4th quarter. Shaker Financial Services LLC now owns 219,257 shares of the investment management company’s stock valued at $3,255,000 after purchasing an additional 189,585 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in shares of Abrdn Asia-Pacific Income Fund by 641.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,915 shares of the investment management company’s stock worth $58,000 after acquiring an additional 3,387 shares during the last quarter. Institutional investors and hedge funds own 33.55% of the company’s stock.

About Abrdn Asia-Pacific Income Fund

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.