Aberdeen Asia-Pacific Income Fund, Inc. (NYSEAMERICAN:FAX) was the recipient of a significant growth in short interest during the month of April. As of April 15th, there was short interest totalling 174,300 shares, a growth of 25.8% from the March 31st total of 138,600 shares. Based on an average daily volume of 1,039,600 shares, the short-interest ratio is presently 0.2 days.
A number of hedge funds and other institutional investors have recently modified their holdings of FAX. FNY Investment Advisers LLC acquired a new position in Aberdeen Asia-Pacific Income Fund during the fourth quarter valued at approximately $31,000. Penbrook Management LLC acquired a new stake in shares of Aberdeen Asia-Pacific Income Fund in the fourth quarter valued at approximately $34,000. Cetera Advisor Networks LLC acquired a new stake in shares of Aberdeen Asia-Pacific Income Fund in the fourth quarter valued at approximately $48,000. National Asset Management Inc. acquired a new stake in shares of Aberdeen Asia-Pacific Income Fund in the fourth quarter valued at approximately $49,000. Finally, CWM LLC lifted its position in shares of Aberdeen Asia-Pacific Income Fund by 31.6% in the first quarter. CWM LLC now owns 12,533 shares of the investment management company’s stock valued at $51,000 after buying an additional 3,012 shares during the last quarter. 21.78% of the stock is owned by hedge funds and other institutional investors.
NYSEAMERICAN FAX traded down $0.06 during trading hours on Tuesday, hitting $4.28. 694,054 shares of the company traded hands, compared to its average volume of 967,449. The stock has a 50-day simple moving average of $4.32. Aberdeen Asia-Pacific Income Fund has a twelve month low of $3.42 and a twelve month high of $4.61.
About Aberdeen Asia-Pacific Income Fund
Aberdeen 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.
Further Reading: What are the benefits of momentum investing?
Receive News & Ratings for Aberdeen Asia-Pacific Income Fund Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aberdeen Asia-Pacific Income Fund and related companies with MarketBeat.com's FREE daily email newsletter.