Shaker Financial Services LLC Has $1.49 Million Stock Holdings in abrdn Asia-Pacific Income Fund, Inc. (NYSEAMERICAN:FAX)

Key Points

• Shaker Financial Services LLC reduced its stake in abrdn Asia-Pacific Income Fund by 56.7%, now holding 95,011 shares valued at approximately $1.49 million after selling 124,246 shares.
• In contrast, LPL Financial LLC increased its stake in the fund by 42.7% during the previous quarter, now owning 169,537 shares worth about $2.5 million.
• The fund recently declared a monthly dividend of $0.165 per share, resulting in an annualized yield of 12.3%.

Shaker Financial Services LLC lessened its position in shares of abrdn Asia-Pacific Income Fund, Inc. (NYSEAMERICAN:FAX - Free Report) by 56.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 95,011 shares of the investment management company's stock after selling 124,246 shares during the period. Shaker Financial Services LLC's holdings in abrdn Asia-Pacific Income Fund were worth $1,492,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in FAX. Private Advisor Group LLC grew its holdings in abrdn Asia-Pacific Income Fund by 2.7% in the 1st quarter. Private Advisor Group LLC now owns 32,782 shares of the investment management company's stock worth $515,000 after buying an additional 864 shares in the last quarter. Schwarz Dygos Wheeler Investment Advisors LLC grew its holdings in abrdn Asia-Pacific Income Fund by 2.5% in the 1st quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 46,264 shares of the investment management company's stock worth $726,000 after buying an additional 1,116 shares in the last quarter. Stifel Financial Corp boosted its stake in abrdn Asia-Pacific Income Fund by 1.8% during the 4th quarter. Stifel Financial Corp now owns 83,317 shares of the investment management company's stock valued at $1,226,000 after purchasing an additional 1,485 shares in the last quarter. Cetera Investment Advisers increased its position in shares of abrdn Asia-Pacific Income Fund by 1.1% during the 1st quarter. Cetera Investment Advisers now owns 211,501 shares of the investment management company's stock valued at $3,321,000 after purchasing an additional 2,255 shares during the period. Finally, Golden State Wealth Management LLC raised its stake in shares of abrdn Asia-Pacific Income Fund by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 5,000 shares of the investment management company's stock worth $78,000 after buying an additional 2,500 shares in the last quarter. Hedge funds and other institutional investors own 33.55% of the company's stock.

abrdn Asia-Pacific Income Fund Trading Up 0.3%

FAX stock traded up $0.05 during trading hours on Wednesday, hitting $16.22. 109,630 shares of the stock traded hands, compared to its average volume of 135,781. The stock has a 50-day simple moving average of $15.94 and a 200 day simple moving average of $15.50. abrdn Asia-Pacific Income Fund, Inc. has a one year low of $13.99 and a one year high of $17.55.

abrdn Asia-Pacific Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Thursday, July 31st. Investors of record on Thursday, July 24th were paid a dividend of $0.165 per share. The ex-dividend date of this dividend was Thursday, July 24th. This represents a c) annualized dividend and a yield of 12.2%.

About abrdn Asia-Pacific Income Fund

Abrdn Asia-Pacific Income Fund Inc is a close ended fixed income mutual fund launched and managed by Aberdeen Standard Investments (Asia) Limited. It is co-managed by Aberdeen Standard Investments Australia Limited and Aberdeen Asset Managers Limited. The fund invests in fixed income markets of Asia, Australia, and New Zeland.