abrdn Asia-Pacific Income Fund (NYSEAMERICAN:FAX) Stock Price Passes Below 50-Day Moving Average - Time to Sell?

Key Points

• FAX crossed below its 50‑day moving average, trading as low as $14.91 versus a 50‑day MA of $15.38 and last quoted at $15.00 on the session reported.
• The fund pays a monthly dividend of $0.165 per share (paid March 31), implying a roughly 13.2% annualized yield.
• Institutional investors own about 33.55% of the stock, with recent increases and new positions from firms including Penserra, US Bancorp DE and Evergreen Capital.

abrdn Asia-Pacific Income Fund, Inc. (NYSEAMERICAN:FAX - Get Free Report)'s stock price crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $15.38 and traded as low as $14.91. abrdn Asia-Pacific Income Fund shares last traded at $15.00, with a volume of 128,252 shares traded.

abrdn Asia-Pacific Income Fund Stock Performance

The firm has a 50 day moving average price of $15.38 and a 200-day moving average price of $15.46.

abrdn Asia-Pacific Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 24th were paid a dividend of $0.165 per share. This represents a c) annualized dividend and a dividend yield of 13.2%. The ex-dividend date of this dividend was Tuesday, March 24th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Penserra Capital Management LLC raised its stake in shares of abrdn Asia-Pacific Income Fund by 3.8% during the 3rd quarter. Penserra Capital Management LLC now owns 1,129,578 shares of the investment management company's stock worth $18,400,000 after buying an additional 41,402 shares during the last quarter. US Bancorp DE raised its stake in shares of abrdn Asia-Pacific Income Fund by 111.0% during the 3rd quarter. US Bancorp DE now owns 63,814 shares of the investment management company's stock worth $1,040,000 after buying an additional 33,573 shares during the last quarter. Shrier Wealth Management LLC acquired a new position in shares of abrdn Asia-Pacific Income Fund during the 4th quarter worth $657,000. Evergreen Capital Management LLC raised its stake in shares of abrdn Asia-Pacific Income Fund by 5.4% during the 2nd quarter. Evergreen Capital Management LLC now owns 882,669 shares of the investment management company's stock worth $14,052,000 after buying an additional 45,337 shares during the last quarter. Finally, TrueMark Investments LLC acquired a new position in shares of abrdn Asia-Pacific Income Fund during the 4th quarter worth $340,000. Institutional investors and hedge funds own 33.55% of the company's stock.

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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