abrdn Asia-Pacific Income Fund (NYSEAMERICAN:FAX) Stock Crosses Below 50 Day Moving Average - Should You Sell?

Key Points

• Technical dip: abrdn Asia‑Pacific Income Fund (FAX) fell below its 50‑day moving average, trading as low as $14.20 and last at $14.23 versus a 50‑day/200‑day MA of $15.53/$15.56 on volume of about 252,716 shares.
• High yield dividend: The fund announced a monthly dividend of $0.165 (ex‑dividend and record date Mar 24, payable Mar 31), implying a 13.9% yield.
• Fund focus and ownership: FAX is a closed‑end fund concentrated in dividend‑paying Asia‑Pacific (ex‑Japan) equities, with institutional investors holding roughly 33.55% and several firms slightly increasing positions recently.

abrdn Asia-Pacific Income Fund, Inc. (NYSEAMERICAN:FAX - Get Free Report)'s stock price crossed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $15.53 and traded as low as $14.20. abrdn Asia-Pacific Income Fund shares last traded at $14.23, with a volume of 252,716 shares.

abrdn Asia-Pacific Income Fund Stock Performance

The firm's 50 day moving average price is $15.53 and its two-hundred day moving average price is $15.56.

abrdn Asia-Pacific Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 24th will be given a $0.165 dividend. The ex-dividend date of this dividend is Tuesday, March 24th. This represents a c) dividend on an annualized basis and a yield of 13.9%.

Institutional Investors Weigh In On abrdn Asia-Pacific Income Fund

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cullen Frost Bankers Inc. grew its holdings in shares of abrdn Asia-Pacific Income Fund by 5.6% in the 4th quarter. Cullen Frost Bankers Inc. now owns 12,866 shares of the investment management company's stock valued at $197,000 after acquiring an additional 683 shares in the last quarter. Kestra Advisory Services LLC increased its position in shares of abrdn Asia-Pacific Income Fund by 7.7% in the fourth quarter. Kestra Advisory Services LLC now owns 16,801 shares of the investment management company's stock valued at $258,000 after acquiring an additional 1,204 shares during the last quarter. Rockefeller Capital Management L.P. raised its holdings in abrdn Asia-Pacific Income Fund by 3.1% during 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 in the last quarter. Creative Planning raised its holdings in abrdn Asia-Pacific Income Fund by 6.9% during the second quarter. Creative Planning now owns 21,167 shares of the investment management company's stock worth $337,000 after acquiring an additional 1,364 shares in the last quarter. Finally, Osaic Holdings Inc. boosted its position in abrdn Asia-Pacific Income Fund by 1.2% during the second quarter. Osaic Holdings Inc. now owns 139,708 shares of the investment management company's stock valued at $2,224,000 after purchasing an additional 1,623 shares during the last quarter. 33.55% of the stock is currently owned by institutional investors and hedge funds.

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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