abrdn Asia-Pacific Income Fund (NYSEAMERICAN:FAX) Hits New 1-Year Low – What’s Next?

abrdn Asia-Pacific Income Fund, Inc. (NYSEAMERICAN:FAX)’s stock price hit a new 52-week low on Wednesday. The company traded as low as $12.57 and last traded at $12.5850, with a volume of 87,227 shares traded. The stock had previously closed at $12.81.

abrdn Asia-Pacific Income Fund Trading Down 1.4%

The firm’s fifty day moving average price is $14.02 and its two-hundred day moving average price is $14.42.

abrdn Asia-Pacific Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 23rd will be paid a $0.15 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 14.2%. The ex-dividend date is Friday, October 23rd.

Hedge Funds Weigh In On abrdn Asia-Pacific Income Fund

Several institutional investors have recently made changes to their positions in the business. Royal Bank of Canada grew its position 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 during the period. Rareview Capital LLC raised its position in abrdn Asia-Pacific Income Fund by 9.7% in the second quarter. Rareview Capital LLC now owns 263,270 shares of the investment management company’s stock worth $4,191,000 after acquiring an additional 23,236 shares during the period. Cetera Investment Advisers raised 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 acquiring an additional 8,650 shares during the period. Shaker Financial Services LLC purchased a new position in shares of abrdn Asia-Pacific Income Fund during the 3rd quarter worth $2,028,000. Finally, NWF Advisory Services Inc. boosted its stake in shares of abrdn Asia-Pacific Income Fund by 3.7% during the 4th quarter. NWF Advisory Services Inc. now owns 100,648 shares of the investment management company’s stock worth $1,544,000 after acquiring an additional 3,618 shares during the last quarter. Institutional investors own 33.55% of the company’s stock.

About abrdn Asia-Pacific Income Fund

abrdn Asia-Pacific Income Fund, Inc is a closed-end investment company listed on the NYSE American under the symbol FAX. The fund seeks to provide current income and, secondarily, capital appreciation by investing primarily in fixed-income securities issued by governments, government-related entities and companies in the Asia-Pacific region.

The fund’s portfolio may include sovereign and corporate bonds, notes and other debt instruments denominated in local or foreign currencies. Its investment exposure can span developed and emerging markets across Asia and the Pacific, including countries such as Australia, China, India, Indonesia, South Korea, Malaysia, New Zealand, the Philippines, Singapore and Thailand.