abrdn Asia-Pacific Income Fund, Inc. (NYSEAMERICAN:FAX) Short Interest Update

Key Points

• Short interest rose 66.5% to 223,313 shares as of July 15, representing 0.5% of shares outstanding and 2.2 days to cover based on average trading volume.
• FAX shares edged up 0.3% to $14.50, remaining below their 12-month high of $16.90 and near the 50-day moving average of $14.51.
• The fund announced a $0.165 monthly dividend, implying a 13.7% annualized yield; institutional investors own 33.55% of the shares.

abrdn Asia-Pacific Income Fund, Inc. (NYSEAMERICAN:FAX - Get Free Report) saw a large growth in short interest in the month of July. As of July 15th, there was short interest totaling 223,313 shares, a growth of 66.5% from the June 30th total of 134,111 shares. Currently, 0.5% of the shares of the company are sold short. Based on an average trading volume of 103,340 shares, the days-to-cover ratio is presently 2.2 days.

abrdn Asia-Pacific Income Fund Trading Up 0.3%

abrdn Asia-Pacific Income Fund stock traded up $0.04 during midday trading on Friday, reaching $14.50. The stock had a trading volume of 156,946 shares, compared to its average volume of 188,241. abrdn Asia-Pacific Income Fund has a 12 month low of $14.13 and a 12 month high of $16.90. The firm's 50-day moving average price is $14.51 and its 200 day moving average price is $14.99.

abrdn Asia-Pacific Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, July 31st. Stockholders of record on Thursday, July 23rd will be paid a $0.165 dividend. The ex-dividend date is Thursday, July 23rd. This represents a c) annualized dividend and a dividend yield of 13.7%.

Institutional Trading of abrdn Asia-Pacific Income Fund

A number of institutional investors have recently modified their holdings of FAX. Evergreen Capital Management LLC boosted its holdings in abrdn Asia-Pacific Income Fund by 3.8% in the 4th quarter. Evergreen Capital Management LLC now owns 896,662 shares of the investment management company's stock worth $13,900,000 after buying an additional 33,158 shares during the period. Royal Bank of Canada lifted its position in shares of 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 worth $10,114,000 after acquiring an additional 51,803 shares in the last quarter. EP Wealth Advisors LLC purchased a new stake in shares of abrdn Asia-Pacific Income Fund during the fourth quarter worth $8,659,000. Invesco Ltd. lifted its position in shares of abrdn Asia-Pacific Income Fund by 20.5% during the fourth quarter. Invesco Ltd. now owns 493,021 shares of the investment management company's stock worth $7,563,000 after acquiring an additional 83,892 shares in the last quarter. Finally, Cetera Investment Advisers boosted its holdings in shares of 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. 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.

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