Abrdn Asia-Pacific Income Fund Inc (NYSEAMERICAN:FAX - Get Free Report) saw a large drop in short interest in the month of April. As of April 30th, there was short interest totalling 49,100 shares, a drop of 64.8% from the April 15th total of 139,500 shares. Based on an average trading volume of 742,500 shares, the days-to-cover ratio is currently 0.1 days.
Abrdn Asia-Pacific Income Fund Trading Down 1.1 %
Shares of FAX traded down $0.03 during midday trading on Friday, hitting $2.58. The company had a trading volume of 1,001,262 shares, compared to its average volume of 959,141. Abrdn Asia-Pacific Income Fund has a 1 year low of $2.33 and a 1 year high of $2.84.
Abrdn Asia-Pacific Income Fund Announces Dividend
The business also recently announced a monthly dividend, which will be paid on Friday, May 31st. Stockholders of record on Thursday, May 23rd will be issued a $0.0275 dividend. This represents a $0.33 dividend on an annualized basis and a dividend yield of 12.79%. The ex-dividend date of this dividend is Wednesday, May 22nd.
Institutional Inflows and Outflows
A number of institutional investors have recently modified their holdings of the stock. PFG Investments LLC purchased a new stake in shares of Abrdn Asia-Pacific Income Fund in the first quarter valued at approximately $697,000. Family Firm Inc. boosted its position in Abrdn Asia-Pacific Income Fund by 8.6% during the first quarter. Family Firm Inc. now owns 717,997 shares of the investment management company's stock worth $2,010,000 after purchasing an additional 56,924 shares in the last quarter. Pekin Hardy Strauss Inc. boosted its position in Abrdn Asia-Pacific Income Fund by 41.3% during the fourth quarter. Pekin Hardy Strauss Inc. now owns 192,971 shares of the investment management company's stock worth $523,000 after purchasing an additional 56,365 shares in the last quarter. Simplicity Wealth LLC purchased a new stake in Abrdn Asia-Pacific Income Fund during the first quarter worth $121,000. Finally, Bleakley Financial Group LLC purchased a new stake in Abrdn Asia-Pacific Income Fund during the first quarter worth $121,000. Institutional investors and hedge funds own 33.55% of the company's stock.
About Abrdn Asia-Pacific Income Fund
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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.
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