Abrdn Asia-Pacific Income Fund Inc (NYSEAMERICAN:FAX) Short Interest Up 325.8% in July

Abrdn Asia-Pacific Income Fund Inc (NYSEAMERICAN:FAX) saw a large growth in short interest in the month of July. As of July 31st, there was short interest totalling 1,300,000 shares, a growth of 325.8% from the July 15th total of 305,300 shares. Based on an average trading volume of 842,300 shares, the days-to-cover ratio is presently 1.5 days.

Institutional Trading of Abrdn Asia-Pacific Income Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FAX. Koshinski Asset Management Inc. purchased a new stake in Abrdn Asia-Pacific Income Fund in the first quarter worth about $30,000. Sar Wealth Management Group LLC bought a new stake in shares of Abrdn Asia-Pacific Income Fund during the fourth quarter valued at approximately $31,000. CreativeOne Wealth LLC purchased a new stake in Abrdn Asia-Pacific Income Fund in the first quarter worth $38,000. AE Wealth Management LLC bought a new position in Abrdn Asia-Pacific Income Fund in the second quarter worth $54,000. Finally, MB Generational Wealth LLC purchased a new position in Abrdn Asia-Pacific Income Fund during the fourth quarter valued at $56,000. Hedge funds and other institutional investors own 33.55% of the company’s stock.

Abrdn Asia-Pacific Income Fund Price Performance

FAX traded up $0.01 during trading on Tuesday, hitting $2.83. 123,090 shares of the stock traded hands, compared to its average volume of 843,559. Abrdn Asia-Pacific Income Fund has a 12-month low of $2.33 and a 12-month high of $2.86.

Abrdn Asia-Pacific Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 23rd will be given a $0.0275 dividend. The ex-dividend date is Friday, August 23rd. This represents a $0.33 dividend on an annualized basis and a dividend yield of 11.66%.

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.