Abrdn Asia-Pacific Income Fund Inc (NYSEAMERICAN:FAX) Sees Significant Decline in Short Interest

Abrdn Asia-Pacific Income Fund Inc (NYSEAMERICAN:FAX) was the recipient of a large decline in short interest in November. As of November 15th, there was short interest totalling 40,500 shares, a decline of 57.9% from the October 31st total of 96,200 shares. Based on an average daily trading volume, of 148,000 shares, the short-interest ratio is currently 0.3 days.

Abrdn Asia-Pacific Income Fund Stock Up 0.6 %

Abrdn Asia-Pacific Income Fund stock traded up $0.10 during mid-day trading on Friday, hitting $15.86. The stock had a trading volume of 121,377 shares, compared to its average volume of 142,869. Abrdn Asia-Pacific Income Fund has a one year low of $14.88 and a one year high of $17.55.

Abrdn Asia-Pacific Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Friday, November 29th. Shareholders of record on Thursday, November 21st were issued a $0.165 dividend. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $1.98 dividend on an annualized basis and a yield of 12.48%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Virtu Financial LLC bought a new stake in Abrdn Asia-Pacific Income Fund in the first quarter worth $124,000. Cetera Advisors LLC bought a new position in shares of Abrdn Asia-Pacific Income Fund in the 1st quarter valued at about $516,000. Park Avenue Securities LLC lifted its holdings in shares of Abrdn Asia-Pacific Income Fund by 9.2% in the 2nd quarter. Park Avenue Securities LLC now owns 520,837 shares of the investment management company’s stock valued at $1,396,000 after acquiring an additional 44,010 shares during the last quarter. Integrated Capital Management Inc. grew its position in Abrdn Asia-Pacific Income Fund by 40.9% in the second quarter. Integrated Capital Management Inc. now owns 106,594 shares of the investment management company’s stock worth $286,000 after acquiring an additional 30,925 shares in the last quarter. Finally, Melfa Wealth Management Inc. increased its stake in Abrdn Asia-Pacific Income Fund by 49.5% during the second quarter. Melfa Wealth Management Inc. now owns 52,859 shares of the investment management company’s stock worth $142,000 after acquiring an additional 17,500 shares during the last quarter. Hedge funds and other institutional investors own 33.55% of the company’s stock.

Abrdn Asia-Pacific Income Fund Company 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.