Abrdn Asia-Pacific Income Fund (NYSEAMERICAN:FAX) Reaches New 52-Week High at $17.44

Shares of Abrdn Asia-Pacific Income Fund Inc (NYSEAMERICAN:FAX) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $17.44 and last traded at $17.38, with a volume of 159063 shares traded. The stock had previously closed at $17.28.

Abrdn Asia-Pacific Income Fund Stock Performance

Abrdn Asia-Pacific Income Fund Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 23rd will be issued a $0.165 dividend. The ex-dividend date is Monday, September 23rd. This represents a $1.98 annualized dividend and a yield of 11.42%. This is a boost from Abrdn Asia-Pacific Income Fund’s previous monthly dividend of $0.03.

Institutional Investors Weigh In On Abrdn Asia-Pacific Income Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Evergreen Capital Management LLC boosted its stake in shares of Abrdn Asia-Pacific Income Fund by 6.9% during the 2nd quarter. Evergreen Capital Management LLC now owns 4,524,105 shares of the investment management company’s stock worth $12,125,000 after acquiring an additional 293,929 shares during the last quarter. Matisse Capital purchased a new position in shares of Abrdn Asia-Pacific Income Fund during the 2nd quarter worth $753,000. Cetera Advisors LLC purchased a new position in shares of Abrdn Asia-Pacific Income Fund during the 1st quarter worth $516,000. PFG Investments LLC boosted 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 worth $957,000 after acquiring an additional 108,402 shares during the last quarter. Finally, Creekside Partners purchased a new position in shares of Abrdn Asia-Pacific Income Fund during the 2nd quarter worth $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.