abrdn Asia-Pacific Income Fund (NYSEAMERICAN:FAX) Shares Cross Below 200 Day Moving Average – Time to Sell?

abrdn Asia-Pacific Income Fund, Inc. (NYSEAMERICAN:FAX) shares crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $14.95 and traded as low as $14.40. abrdn Asia-Pacific Income Fund shares last traded at $14.53, with a volume of 182,034 shares.

abrdn Asia-Pacific Income Fund Trading Up 0.8%

The business has a 50-day moving average of $14.48 and a 200 day moving average of $14.95.

abrdn Asia-Pacific Income Fund Announces Dividend

The company also recently declared a monthly dividend, which was paid on Friday, July 31st. Shareholders of record on Thursday, July 23rd were paid a dividend of $0.165 per share. This represents a c) dividend on an annualized basis and a dividend yield of 13.6%. The ex-dividend date was Thursday, July 23rd.

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 FAX. CoreCap Advisors LLC purchased a new position in shares of abrdn Asia-Pacific Income Fund in the second quarter worth approximately $77,000. Bank of America Corp DE grew its position in abrdn Asia-Pacific Income Fund by 4.4% during the first quarter. Bank of America Corp DE now owns 62,345 shares of the investment management company’s stock valued at $899,000 after buying an additional 2,600 shares during the period. Royal Bank of Canada increased its holdings in abrdn Asia-Pacific Income Fund by 8.0% during the first quarter. Royal Bank of Canada now owns 701,399 shares of the investment management company’s stock valued at $10,114,000 after buying an additional 51,803 shares during the last quarter. Quantinno Capital Management LP bought a new position in abrdn Asia-Pacific Income Fund in the first quarter worth approximately $466,000. Finally, Cetera Investment Advisers raised its position in abrdn Asia-Pacific Income Fund by 3.7% in the first quarter. Cetera Investment Advisers now owns 241,711 shares of the investment management company’s stock worth $3,485,000 after acquiring an additional 8,650 shares during the period. Hedge funds and other institutional investors 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.