Private Advisor Group LLC Lowers Position in Abrdn Asia-Pacific Income Fund Inc (NYSEAMERICAN:FAX)

Private Advisor Group LLC decreased its position in shares of Abrdn Asia-Pacific Income Fund Inc (NYSEAMERICAN:FAX) by 85.5% during the third quarter, Holdings Channel reports. The fund owned 42,127 shares of the investment management company’s stock after selling 248,401 shares during the period. Private Advisor Group LLC’s holdings in Abrdn Asia-Pacific Income Fund were worth $733,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Sanctuary Advisors LLC bought a new stake in Abrdn Asia-Pacific Income Fund during the second quarter worth about $142,000. Cetera Advisors LLC bought a new stake in shares of Abrdn Asia-Pacific Income Fund in the 1st quarter worth approximately $516,000. Evergreen Capital Management LLC boosted its position in shares of 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 worth $12,125,000 after purchasing an additional 293,929 shares in the last quarter. Matisse Capital purchased a new stake in shares of Abrdn Asia-Pacific Income Fund in the 2nd quarter worth approximately $753,000. Finally, Northwestern Mutual Wealth Management Co. increased its position 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 in the last quarter. Hedge funds and other institutional investors own 33.55% of the company’s stock.

Abrdn Asia-Pacific Income Fund Stock Performance

Shares of NYSEAMERICAN:FAX opened at $16.59 on Friday. Abrdn Asia-Pacific Income Fund Inc has a 1-year low of $14.55 and a 1-year high of $17.55.

Abrdn Asia-Pacific Income Fund Announces Dividend

The company also recently announced a monthly dividend, which was paid on Thursday, October 31st. Shareholders of record on Thursday, October 24th were issued a $0.165 dividend. The ex-dividend date of this dividend was Thursday, October 24th. This represents a $1.98 annualized dividend and a yield of 11.93%.

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.