Abrdn Asia-Pacific Income Fund (NYSEAMERICAN:FAX) Sets New 12-Month Low – Here’s What Happened

Abrdn Asia-Pacific Income Fund Inc (NYSEAMERICAN:FAX)’s share price reached a new 52-week low during mid-day trading on Monday . The company traded as low as $14.66 and last traded at $14.90, with a volume of 140782 shares trading hands. The stock had previously closed at $14.91.

Abrdn Asia-Pacific Income Fund Stock Performance

Abrdn Asia-Pacific Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, January 10th. Stockholders of record on Monday, December 30th will be paid a dividend of $0.165 per share. The ex-dividend date of this dividend is Monday, December 30th. This represents a $1.98 dividend on an annualized basis and a dividend yield of 13.38%.

Hedge Funds Weigh In On Abrdn Asia-Pacific Income Fund

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wilmington Savings Fund Society FSB purchased a new position in shares of Abrdn Asia-Pacific Income Fund in the third quarter worth about $55,000. Centaurus Financial Inc. acquired a new stake in Abrdn Asia-Pacific Income Fund in the 3rd quarter valued at about $101,000. AE Wealth Management LLC purchased a new position in Abrdn Asia-Pacific Income Fund in the 2nd quarter worth approximately $54,000. Shaker Financial Services LLC acquired a new position in shares of Abrdn Asia-Pacific Income Fund during the 3rd quarter worth approximately $516,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of Abrdn Asia-Pacific Income Fund by 34.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 38,592 shares of the investment management company’s stock valued at $103,000 after purchasing an additional 9,885 shares in the last quarter. Hedge funds and other institutional investors 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.