Shaker Financial Services LLC Purchases 155,079 Shares of abrdn Asia-Pacific Income Fund, Inc. $FAX

Key Points

• Shaker Financial Services acquired 155,079 shares of abrdn Asia-Pacific Income Fund in the third quarter, valued at approximately $2.03 million and representing about 0.38% of the fund.
• Other institutional investors, including Royal Bank of Canada and Rareview Capital, also increased their holdings; institutions collectively own 33.55% of FAX.
• FAX shares fell 1.4% to $12.63, near its 52-week low, while the fund declared a monthly dividend of $0.15 per share, implying a 14.2% annualized yield.

Shaker Financial Services LLC acquired a new stake in abrdn Asia-Pacific Income Fund, Inc. (NYSEAMERICAN:FAX - Free Report) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 155,079 shares of the investment management company's stock, valued at approximately $2,028,000. Shaker Financial Services LLC owned approximately 0.38% of abrdn Asia-Pacific Income Fund as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Royal Bank of Canada boosted its position in shares of abrdn Asia-Pacific Income Fund by 8.0% during the 1st quarter. Royal Bank of Canada now owns 701,399 shares of the investment management company's stock valued at $10,114,000 after acquiring an additional 51,803 shares in the last quarter. Rareview Capital LLC raised its position in 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 purchasing an additional 23,236 shares in the last quarter. Cetera Investment Advisers raised its position in 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 worth $3,485,000 after purchasing an additional 8,650 shares in the last quarter. NWF Advisory Services Inc. raised its position in abrdn Asia-Pacific Income Fund by 3.7% in the fourth quarter. NWF Advisory Services Inc. now owns 100,648 shares of the investment management company's stock worth $1,544,000 after purchasing an additional 3,618 shares in the last quarter. Finally, Corient Private Wealth LP lifted its stake in abrdn Asia-Pacific Income Fund by 1.0% during the second quarter. Corient Private Wealth LP now owns 99,190 shares of the investment management company's stock worth $1,449,000 after purchasing an additional 950 shares during the period. 33.55% of the stock is owned by institutional investors.

abrdn Asia-Pacific Income Fund Stock Down 1.4%

FAX traded down $0.17 during midday trading on Wednesday, reaching $12.63. 162,062 shares of the company's stock were exchanged, compared to its average volume of 184,272. The business has a 50-day simple moving average of $14.02 and a two-hundred day simple moving average of $14.42. abrdn Asia-Pacific Income Fund, Inc. has a one year low of $12.57 and a one year high of $16.37.

abrdn Asia-Pacific Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 23rd will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, October 23rd. This represents a $1.80 annualized dividend and a dividend yield of 14.2%.

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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