Ethos Financial Group LLC Acquires Shares of 36,613 abrdn Asia-Pacific Income Fund, Inc. $FAX

Key Points

• Ethos Financial Group LLC acquired a new position in abrdn Asia-Pacific Income Fund, Inc. (NYSEAMERICAN: FAX) during Q1, purchasing 36,613 shares valued at approximately $575,000.
• The fund recently announced a monthly dividend of $0.165 per share, resulting in an annualized dividend yield of 12.1%.
• Shares of abrdn Asia-Pacific Income Fund have seen fluctuations, currently priced at $16.34, with a 12-month range between $13.99 and $17.55.

Ethos Financial Group LLC acquired a new stake in abrdn Asia-Pacific Income Fund, Inc. (NYSEAMERICAN:FAX - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 36,613 shares of the investment management company's stock, valued at approximately $575,000.

A number of other hedge funds have also made changes to their positions in the business. Tower Research Capital LLC TRC boosted its position in shares of abrdn Asia-Pacific Income Fund by 641.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,915 shares of the investment management company's stock valued at $58,000 after purchasing an additional 3,387 shares during the period. Golden State Wealth Management LLC boosted its position 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 valued at $78,000 after purchasing an additional 2,500 shares during the period. Leigh Baldwin & CO. LLC acquired a new stake in shares of abrdn Asia-Pacific Income Fund in the 1st quarter valued at about $160,000. Clear Creek Financial Management LLC acquired a new stake in shares of abrdn Asia-Pacific Income Fund in the 1st quarter valued at about $197,000. Finally, Apollon Wealth Management LLC boosted its position in shares of abrdn Asia-Pacific Income Fund by 24.0% in the 1st quarter. Apollon Wealth Management LLC now owns 14,295 shares of the investment management company's stock valued at $224,000 after purchasing an additional 2,768 shares during the period. Hedge funds and other institutional investors own 33.55% of the company's stock.

abrdn Asia-Pacific Income Fund Stock Down 0.6%

Shares of NYSEAMERICAN FAX traded down $0.09 during trading hours on Friday, reaching $16.21. The stock had a trading volume of 119,726 shares, compared to its average volume of 143,787. abrdn Asia-Pacific Income Fund, Inc. has a fifty-two week low of $13.99 and a fifty-two week high of $17.55. The firm has a 50-day moving average of $16.10 and a 200-day moving average of $15.66.

abrdn Asia-Pacific Income Fund Announces Dividend

The company also recently announced a dividend, which will be paid on Friday, August 29th. Investors of record on Monday, August 25th will be given a $0.165 dividend. The ex-dividend date of this dividend is Friday, August 22nd. This represents a dividend yield of 1,212.0%.

abrdn Asia-Pacific Income Fund Profile

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.