Shaker Financial Services LLC Sells 124,246 Shares of 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 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 (SEC). The fund 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 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of FAX. Cetera Investment Advisers grew its stake in abrdn Asia-Pacific Income Fund by 1.1% during the first quarter. Cetera Investment Advisers now owns 211,501 shares of the investment management company's stock worth $3,321,000 after buying an additional 2,255 shares during the period. Private Advisor Group LLC grew its stake in abrdn Asia-Pacific Income Fund by 2.7% during the first 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 during the period. Easterly Investment Partners LLC grew its stake in abrdn Asia-Pacific Income Fund by 18.2% during the first quarter. Easterly Investment Partners LLC now owns 31,239 shares of the investment management company's stock worth $490,000 after buying an additional 4,800 shares during the period. Schwarz Dygos Wheeler Investment Advisors LLC grew its stake in abrdn Asia-Pacific Income Fund by 2.5% during the first 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 during the period. Finally, Apollon Wealth Management LLC grew its stake in abrdn Asia-Pacific Income Fund by 24.0% during the first quarter. Apollon Wealth Management LLC now owns 14,295 shares of the investment management company's stock worth $224,000 after buying an additional 2,768 shares during the period. Institutional investors and hedge funds own 33.55% of the company's stock.

abrdn Asia-Pacific Income Fund Trading Up 0.1%

NYSEAMERICAN FAX traded up $0.02 during trading hours on Friday, reaching $16.30. 90,624 shares of the company traded hands, compared to its average volume of 129,054. abrdn Asia-Pacific Income Fund, Inc. has a 12 month low of $13.99 and a 12 month high of $17.55. The company has a 50 day moving average of $15.96 and a two-hundred day moving average of $15.52.

abrdn Asia-Pacific Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Thursday, July 31st. Investors of record on Thursday, July 24th were given a $0.165 dividend. This represents a c) dividend on an annualized basis and a yield of 12.1%. The ex-dividend date was Thursday, July 24th.

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.