abrdn Asia-Pacific Income Fund, Inc. (NYSEAMERICAN:FAX) Plans Monthly Dividend of $0.15

Key Points

• abrdn Asia-Pacific Income Fund declared a monthly dividend of $0.15 per share, payable October 30 to shareholders of record October 23. The dividend annualizes to $1.80 per share and represents a 13.9% yield.
• FAX shares recently traded at $12.96, near the lower end of their 52-week range of $12.56 to $16.37, with the stock below both its 50-day and 200-day moving averages.
• Institutional investors own 33.55% of the fund, with several firms—including Royal Bank of Canada and Rareview Capital—recently increasing their positions. The closed-end fund invests primarily in Asia-Pacific government and corporate fixed-income securities.

abrdn Asia-Pacific Income Fund, Inc. (NYSEAMERICAN:FAX - Get Free Report) declared a monthly dividend on Friday, October 9th. Stockholders of record on Friday, October 23rd will be given a dividend of $0.15 per share by the investment management company on Friday, October 30th. This represents a $1.80 annualized dividend and a dividend yield of 13.9%. The ex-dividend date of this dividend is Friday, October 23rd.

abrdn Asia-Pacific Income Fund Stock Performance

Shares of NYSEAMERICAN FAX traded up $0.06 during midday trading on Wednesday, hitting $12.96. The company's stock had a trading volume of 11,801 shares, compared to its average volume of 186,192. The stock has a fifty day moving average price of $13.85 and a 200 day moving average price of $14.36. abrdn Asia-Pacific Income Fund has a one year low of $12.56 and a one year high of $16.37.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. 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. Rareview Capital LLC boosted its holdings in shares of abrdn Asia-Pacific Income Fund by 9.7% in the second quarter. Rareview Capital LLC now owns 263,270 shares of the investment management company's stock worth $4,191,000 after acquiring an additional 23,236 shares during the period. Cetera Investment Advisers grew its position 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 valued at $3,485,000 after purchasing an additional 8,650 shares in the last quarter. Shaker Financial Services LLC purchased a new position in shares of abrdn Asia-Pacific Income Fund in the third quarter valued at $2,028,000. Finally, Corient Private Wealth LP grew its position in shares of abrdn Asia-Pacific Income Fund by 1.0% in the second quarter. Corient Private Wealth LP now owns 99,190 shares of the investment management company's stock valued at $1,449,000 after purchasing an additional 950 shares in the last quarter. 33.55% of the stock is currently owned by hedge funds and other institutional investors.

About abrdn Asia-Pacific Income Fund

abrdn Asia-Pacific Income Fund, Inc is a closed-end investment company listed on the NYSE American under the symbol FAX. 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, notes and other debt instruments denominated in local or foreign currencies. Its investment exposure can span developed and emerging markets across Asia and the Pacific, including countries such as Australia, China, India, Indonesia, South Korea, Malaysia, New Zealand, the Philippines, Singapore and Thailand.

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