abrdn Asia-Pacific Income Fund, Inc. (NYSEAMERICAN:FAX) Short Interest Up 59.6% in February

abrdn Asia-Pacific Income Fund, Inc. (NYSEAMERICAN:FAX) was the target of a significant growth in short interest during the month of February. As of February 27th, there was short interest totaling 154,023 shares, a growth of 59.6% from the February 12th total of 96,532 shares. Based on an average trading volume of 199,507 shares, the days-to-cover ratio is presently 0.8 days. Approximately 0.1% of the shares of the stock are sold short. Approximately 0.1% of the shares of the stock are sold short. Based on an average trading volume of 199,507 shares, the days-to-cover ratio is presently 0.8 days.

abrdn Asia-Pacific Income Fund Stock Up 0.4%

Shares of FAX traded up $0.06 during trading hours on Friday, hitting $15.32. 309,594 shares of the stock were exchanged, compared to its average volume of 192,845. The stock’s 50-day moving average price is $15.63 and its two-hundred day moving average price is $15.69. abrdn Asia-Pacific Income Fund has a 12-month low of $13.99 and a 12-month high of $16.90.

abrdn Asia-Pacific Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 24th will be given a dividend of $0.165 per share. The ex-dividend date is Tuesday, March 24th. This represents a c) dividend on an annualized basis and a yield of 12.9%.

Institutional Investors Weigh In On abrdn Asia-Pacific Income Fund

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. EP Wealth Advisors LLC purchased a new position in abrdn Asia-Pacific Income Fund during the fourth quarter worth about $8,659,000. Rareview Capital LLC purchased a new position in shares of abrdn Asia-Pacific Income Fund during the 4th quarter worth approximately $2,867,000. Franklin Resources Inc. increased its holdings in abrdn Asia-Pacific Income Fund by 12,864.6% in the 4th quarter. Franklin Resources Inc. now owns 161,928 shares of the investment management company’s stock valued at $2,484,000 after purchasing an additional 160,679 shares during the last quarter. Shaker Financial Services LLC acquired a new position in abrdn Asia-Pacific Income Fund during the fourth quarter worth $1,555,000. Finally, Truffle Hound Capital LLC boosted its position in shares of abrdn Asia-Pacific Income Fund by 20.0% during the second quarter. Truffle Hound Capital LLC now owns 600,000 shares of the investment management company’s stock worth $9,552,000 after buying an additional 100,000 shares during the period. Institutional investors and hedge funds own 33.55% of the company’s stock.

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.