Abrdn Asia-Pacific Income Fund (NYSEAMERICAN:FAX) Hits New 52-Week Low – Time to Sell?

Abrdn Asia-Pacific Income Fund Inc (NYSEAMERICAN:FAX) shares hit a new 52-week low during mid-day trading on Monday . The company traded as low as $14.66 and last traded at $14.90, with a volume of 140782 shares. The stock had previously closed at $14.91.

Abrdn Asia-Pacific Income Fund Stock Down 0.7 %

Abrdn Asia-Pacific Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, January 10th. Investors of record on Monday, December 30th will be given a dividend of $0.165 per share. This represents a $1.98 annualized dividend and a yield of 13.38%. The ex-dividend date is Monday, December 30th.

Institutional Trading of Abrdn Asia-Pacific Income Fund

Institutional investors have recently made changes to their positions in the company. Sanctuary Advisors LLC acquired a new stake in shares of Abrdn Asia-Pacific Income Fund during the 2nd quarter worth about $142,000. Shaker Financial Services LLC acquired a new stake in shares of Abrdn Asia-Pacific Income Fund during the third quarter valued at about $516,000. Evergreen Capital Management LLC increased its position in shares of Abrdn Asia-Pacific Income Fund by 6.9% during the second quarter. Evergreen Capital Management LLC now owns 4,524,105 shares of the investment management company’s stock valued at $12,125,000 after acquiring an additional 293,929 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Abrdn Asia-Pacific Income Fund by 34.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 38,592 shares of the investment management company’s stock valued at $103,000 after acquiring an additional 9,885 shares during the period. Finally, Creekside Partners acquired a new position in shares of Abrdn Asia-Pacific Income Fund in the 2nd quarter worth approximately $154,000. Hedge funds and other institutional investors own 33.55% of the company’s stock.

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.