Short Interest in abrdn Asia-Pacific Income Fund, Inc. (NYSEAMERICAN:FAX) Drops By 57.1%

Key Points

• Short interest fell 57.1% to 116,436 shares as of April 15 (from 271,194 on March 31), equal to 0.3% of shares sold short and a days-to-cover of 0.6 based on average volume.
• Several institutions adjusted positions — Jane Street opened a ~$170K stake while Creative Planning, Raymond James and Osaic increased holdings — and institutional ownership stands at 33.55%.
• The fund announced a monthly dividend of $0.165 (annualized yield ~13.3%); the record/ex-dividend date is April 22 and payment is scheduled for April 30.

abrdn Asia-Pacific Income Fund, Inc. (NYSEAMERICAN:FAX - Get Free Report) was the target of a significant decline in short interest in April. As of April 15th, there was short interest totaling 116,436 shares, a decline of 57.1% from the March 31st total of 271,194 shares. Based on an average daily trading volume, of 181,344 shares, the days-to-cover ratio is currently 0.6 days. Currently, 0.3% of the shares of the stock are sold short.

Institutional Investors Weigh In On abrdn Asia-Pacific Income Fund

Several hedge funds have recently added to or reduced their stakes in FAX. Jane Street Group LLC bought a new position in shares of abrdn Asia-Pacific Income Fund during the 1st quarter valued at about $170,000. Creative Planning boosted its stake in abrdn Asia-Pacific Income Fund by 6.9% in the second quarter. Creative Planning now owns 21,167 shares of the investment management company's stock worth $337,000 after buying an additional 1,364 shares in the last quarter. Raymond James Financial Inc. grew its position in abrdn Asia-Pacific Income Fund by 15.9% during the second quarter. Raymond James Financial Inc. now owns 95,663 shares of the investment management company's stock valued at $1,523,000 after acquiring an additional 13,095 shares during the last quarter. Osaic Holdings Inc. grew its position in abrdn Asia-Pacific Income Fund by 1.2% during the second quarter. Osaic Holdings Inc. now owns 139,708 shares of the investment management company's stock valued at $2,224,000 after acquiring an additional 1,623 shares during the last quarter. Finally, Apollon Wealth Management LLC raised its stake in shares of abrdn Asia-Pacific Income Fund by 13.9% during the third quarter. Apollon Wealth Management LLC now owns 24,374 shares of the investment management company's stock worth $397,000 after acquiring an additional 2,983 shares in the last quarter. Institutional investors own 33.55% of the company's stock.

abrdn Asia-Pacific Income Fund Trading Down 0.6%

abrdn Asia-Pacific Income Fund stock traded down $0.09 during mid-day trading on Friday, hitting $14.94. 135,755 shares of the company traded hands, compared to its average volume of 180,940. abrdn Asia-Pacific Income Fund has a one year low of $14.18 and a one year high of $16.90. The stock has a fifty day moving average price of $15.20 and a 200-day moving average price of $15.36.

abrdn Asia-Pacific Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, April 30th. Investors of record on Wednesday, April 22nd will be paid a $0.165 dividend. This represents a c) dividend on an annualized basis and a yield of 13.3%. The ex-dividend date of this dividend is Wednesday, April 22nd.

About abrdn Asia-Pacific Income Fund

The abrdn Asia-Pacific Income Fund is a closed-end management investment company listed on the NYSE American under the ticker FAX. The fund seeks to provide total return by focusing primarily on current income and secondarily on capital appreciation through a diversified portfolio of Asia-Pacific securities.

Its investment portfolio is concentrated in dividend-paying equity securities of companies domiciled or operating in the Asia-Pacific region, excluding Japan. The fund may invest in common stocks, real estate investment trusts (REITs), depositary receipts, convertible securities and derivatives.

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