Abrdn Asia-Pacific Income Fund (NYSEAMERICAN:FAX) Reaches New 52-Week Low – Here’s What Happened

Abrdn Asia-Pacific Income Fund Inc (NYSEAMERICAN:FAX) shares hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $14.60 and last traded at $14.62, with a volume of 60446 shares changing hands. The stock had previously closed at $14.83.

Abrdn Asia-Pacific Income Fund Stock Performance

Abrdn Asia-Pacific Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, January 10th. Investors of record on Monday, December 30th will be paid a $0.165 dividend. This represents a $1.98 annualized dividend and a yield of 13.50%. The ex-dividend date of this dividend is Monday, December 30th.

Institutional Investors Weigh In On Abrdn Asia-Pacific Income Fund

Several institutional investors and hedge funds have recently made changes to their positions in FAX. Wilmington Savings Fund Society FSB purchased a new position in Abrdn Asia-Pacific Income Fund during the third quarter worth $55,000. Centaurus Financial Inc. acquired a new stake in shares of Abrdn Asia-Pacific Income Fund during the third quarter valued at $101,000. Northwestern Mutual Wealth Management Co. increased its position in 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 purchasing an additional 9,885 shares in the last quarter. Garner Asset Management Corp raised its stake in 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 valued at $972,000 after purchasing an additional 14,009 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. lifted its holdings in Abrdn Asia-Pacific Income Fund by 4.7% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 423,921 shares of the investment management company’s stock valued at $1,136,000 after purchasing an additional 19,005 shares in the last quarter. 33.55% of the stock is currently owned by hedge funds and other institutional investors.

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.