abrdn Asia-Pacific Income Fund (NYSEAMERICAN:FAX) Stock Price Crosses Above 50 Day Moving Average - Here's Why

Key Points

• Shares rose 1.0% to $14.79, moving above the fund’s 50-day moving average of $14.51, though they remained below the 200-day average of $14.89.
• The fund declared a monthly dividend of $0.165 per share, payable August 31 to shareholders of record August 24, representing a reported 13.4% annualized yield.
• Institutional investors own 33.55% of the fund, with several firms—including Royal Bank of Canada and Rareview Capital—recently increasing or initiating positions.

Shares of abrdn Asia-Pacific Income Fund, Inc. (NYSEAMERICAN:FAX - Get Free Report) crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $14.51 and traded as high as $14.79. abrdn Asia-Pacific Income Fund shares last traded at $14.79, with a volume of 185,573 shares trading hands.

abrdn Asia-Pacific Income Fund Stock Up 1.0%

The company's 50 day moving average price is $14.51 and its two-hundred day moving average price is $14.89.

abrdn Asia-Pacific Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 24th will be issued a dividend of $0.165 per share. This represents a c) annualized dividend and a yield of 13.4%. The ex-dividend date is Monday, August 24th.

Institutional Trading of abrdn Asia-Pacific Income Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rareview Capital LLC purchased a new position in abrdn Asia-Pacific Income Fund during the 4th quarter valued at $2,867,000. Royal Bank of Canada boosted 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 valued at $10,114,000 after buying an additional 51,803 shares during the period. Rockefeller Capital Management L.P. boosted its position in abrdn Asia-Pacific Income Fund by 3.1% in the 4th quarter. Rockefeller Capital Management L.P. now owns 41,385 shares of the investment management company's stock valued at $635,000 after buying an additional 1,228 shares during the period. NWF Advisory Services Inc. grew its stake in abrdn Asia-Pacific Income Fund by 3.7% in the 4th quarter. NWF Advisory Services Inc. now owns 100,648 shares of the investment management company's stock worth $1,544,000 after acquiring an additional 3,618 shares in the last quarter. Finally, Schwarz Dygos Wheeler Investment Advisors LLC grew its stake in abrdn Asia-Pacific Income Fund by 8.6% in the 4th quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 67,185 shares of the investment management company's stock worth $1,031,000 after acquiring an additional 5,301 shares in the last quarter. 33.55% of the stock is owned by hedge funds and other institutional investors.

About abrdn Asia-Pacific Income Fund

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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