Abrdn Asia-Pacific Income Fund (NYSEAMERICAN:FAX) Reaches 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 trading on Monday . The company traded as low as $14.66 and last traded at $14.90, with a volume of 140782 shares traded. The stock had previously closed at $14.91.

Abrdn Asia-Pacific Income Fund Stock Performance

Abrdn Asia-Pacific Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, January 10th. Stockholders of record on Monday, December 30th will be given a dividend of $0.165 per share. The ex-dividend date of this dividend is Monday, December 30th. This represents a $1.98 annualized dividend and a dividend yield of 13.45%.

Institutional Investors Weigh In On Abrdn Asia-Pacific Income Fund

A number of hedge funds have recently made changes to their positions in FAX. Wilmington Savings Fund Society FSB bought a new stake in shares of Abrdn Asia-Pacific Income Fund during the third quarter valued at about $55,000. Centaurus Financial Inc. bought a new stake in shares of Abrdn Asia-Pacific Income Fund during the 3rd quarter worth about $101,000. Northwestern Mutual Wealth Management Co. raised its position in shares of 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 worth $103,000 after buying an additional 9,885 shares in the last quarter. Garner Asset Management Corp lifted its stake in shares of Abrdn Asia-Pacific Income Fund by 33.5% in the 3rd quarter. Garner Asset Management Corp now owns 55,884 shares of the investment management company’s stock worth $972,000 after acquiring an additional 14,009 shares during the period. Finally, Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Abrdn Asia-Pacific Income Fund by 4.7% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 423,921 shares of the investment management company’s stock valued at $1,136,000 after acquiring an additional 19,005 shares in the last quarter. Institutional investors own 33.55% of the company’s stock.

Abrdn Asia-Pacific Income Fund Company Profile

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.