abrdn Asia-Pacific Income Fund, Inc. (NYSEAMERICAN:FAX) Plans $0.17 Monthly Dividend

abrdn Asia-Pacific Income Fund, Inc. (NYSEAMERICAN:FAX) declared a monthly dividend on Friday, July 10th. Shareholders of record on Thursday, July 23rd will be paid a dividend of 0.165 per share by the investment management company on Friday, July 31st. This represents a c) dividend on an annualized basis and a dividend yield of 13.6%. The ex-dividend date is Thursday, July 23rd.

abrdn Asia-Pacific Income Fund Stock Performance

Shares of FAX stock opened at $14.51 on Tuesday. The firm has a fifty day simple moving average of $14.55 and a 200-day simple moving average of $15.03. abrdn Asia-Pacific Income Fund has a twelve month low of $14.13 and a twelve month high of $16.90.

Hedge Funds Weigh In On abrdn Asia-Pacific Income Fund

Institutional investors have recently made changes to their positions in the stock. CoreCap Advisors LLC acquired a new position in shares of abrdn Asia-Pacific Income Fund during the second quarter worth approximately $77,000. Bank of America Corp DE raised its position in shares of abrdn Asia-Pacific Income Fund by 4.4% during the first quarter. Bank of America Corp DE now owns 62,345 shares of the investment management company’s stock worth $899,000 after purchasing an additional 2,600 shares during the period. Royal Bank of Canada lifted its stake in abrdn Asia-Pacific Income Fund by 8.0% during the first quarter. Royal Bank of Canada now owns 701,399 shares of the investment management company’s stock valued at $10,114,000 after buying an additional 51,803 shares in the last quarter. Quantinno Capital Management LP acquired a new stake in shares of abrdn Asia-Pacific Income Fund during the 1st quarter worth approximately $466,000. Finally, Cetera Investment Advisers lifted its position in abrdn Asia-Pacific Income Fund by 3.7% in the first quarter. Cetera Investment Advisers now owns 241,711 shares of the investment management company’s stock worth $3,485,000 after purchasing an additional 8,650 shares during the period. 33.55% of the stock is owned by institutional investors.

abrdn Asia-Pacific Income Fund Company Profile

The abrdn Asia-Pacific Income Fund is a closed-end management investment company listed on the NYSE American under the ticker FAX. The fund seeks to provide total return by focusing primarily on current income and secondarily on capital appreciation through a diversified portfolio of Asia-Pacific securities.

Its investment portfolio is concentrated in dividend-paying equity securities of companies domiciled or operating in the Asia-Pacific region, excluding Japan. The fund may invest in common stocks, real estate investment trusts (REITs), depositary receipts, convertible securities and derivatives.