abrdn Asia-Pacific Income Fund, Inc. Announces Monthly Dividend of $0.17 (NYSEAMERICAN:FAX)

abrdn Asia-Pacific Income Fund, Inc. (NYSEAMERICAN:FAX) announced a monthly dividend on Tuesday, August 11th. Shareholders of record on Monday, August 24th will be given a dividend of 0.165 per share by the investment management company on Monday, August 31st. This represents a c) dividend on an annualized basis and a yield of 13.6%. The ex-dividend date is Monday, August 24th.

abrdn Asia-Pacific Income Fund Stock Performance

Shares of abrdn Asia-Pacific Income Fund stock traded down $0.07 on Wednesday, reaching $14.55. 22,202 shares of the company were exchanged, compared to its average volume of 185,016. abrdn Asia-Pacific Income Fund has a 1-year low of $14.13 and a 1-year high of $16.90. The stock’s 50 day moving average price is $14.47 and its 200-day moving average price is $14.93.

Hedge Funds Weigh In On abrdn Asia-Pacific Income Fund

A number of hedge funds have recently modified their holdings of FAX. CoreCap Advisors LLC purchased a new stake in abrdn Asia-Pacific Income Fund in the 2nd quarter valued at $77,000. Bank of America Corp DE increased its stake in abrdn Asia-Pacific Income Fund by 4.4% in 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 purchasing an additional 2,600 shares during the period. Royal Bank of Canada raised its holdings in shares of abrdn Asia-Pacific Income Fund by 8.0% in 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 acquired a new stake in shares of abrdn Asia-Pacific Income Fund during the first quarter worth about $466,000. Finally, Cetera Investment Advisers boosted its stake in shares of abrdn Asia-Pacific Income Fund by 3.7% during the first quarter. Cetera Investment Advisers now owns 241,711 shares of the investment management company’s stock worth $3,485,000 after buying an additional 8,650 shares during the period. 33.55% of the stock is currently owned by hedge funds and other institutional investors.

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.