abrdn Asia-Pacific Income Fund (NYSEAMERICAN:FAX) Reaches New 1-Year Low – What’s Next?

abrdn Asia-Pacific Income Fund, Inc. (NYSEAMERICAN:FAX) shares reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $14.11 and last traded at $14.0330, with a volume of 103750 shares traded. The stock had previously closed at $14.42.

abrdn Asia-Pacific Income Fund Price Performance

The stock’s 50 day moving average is $14.54 and its 200-day moving average is $14.73.

abrdn Asia-Pacific Income Fund Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 22nd will be given a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, September 22nd. This represents a c) annualized dividend and a yield of 12.9%.

Institutional Investors Weigh In On abrdn Asia-Pacific Income Fund

Several institutional investors have recently modified their holdings of the business. Royal Bank of Canada raised its position in abrdn Asia-Pacific Income Fund by 8.0% in the 1st quarter. Royal Bank of Canada now owns 701,399 shares of the investment management company’s stock worth $10,114,000 after buying an additional 51,803 shares during the last quarter. Rareview Capital LLC boosted its holdings in shares of abrdn Asia-Pacific Income Fund by 33.3% during the 1st quarter. Rareview Capital LLC now owns 240,034 shares of the investment management company’s stock valued at $3,821,000 after acquiring an additional 59,937 shares during the last quarter. Advisory Solutions Group LLC bought a new stake in shares of abrdn Asia-Pacific Income Fund in the second quarter worth approximately $550,000. Rockefeller Capital Management L.P. grew its stake in shares of abrdn Asia-Pacific Income Fund by 3.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 41,385 shares of the investment management company’s stock worth $635,000 after acquiring an additional 1,228 shares during the period. Finally, Baird Financial Group Inc. raised its holdings in shares of abrdn Asia-Pacific Income Fund by 1.4% during the second quarter. Baird Financial Group Inc. now owns 60,681 shares of the investment management company’s stock valued at $893,000 after purchasing an additional 851 shares during the last quarter. 33.55% of the stock is owned by hedge funds and other institutional investors.

About abrdn Asia-Pacific Income Fund

abrdn Asia-Pacific Income Fund (NYSE American: FAX) is a closed-end investment fund managed by abrdn. The fund seeks to provide current income and, secondarily, capital appreciation by investing primarily in fixed-income securities issued by governments, government-related entities and companies in the Asia-Pacific region.

The fund’s portfolio may include sovereign and corporate bonds, emerging-market debt and other income-producing securities denominated in local or foreign currencies.