Abrdn Asia-Pacific Income Fund (NYSEAMERICAN:FAX) Share Price Crosses Above 50-Day Moving Average of $0.00

Posted by Maria Luz-Campos on Jul 4th, 2024

Shares of Abrdn Asia-Pacific Income Fund Inc (NYSEAMERICAN:FAX – Get Free Report) passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $0.00 and traded as high as $2.70. Abrdn Asia-Pacific Income Fund shares last traded at $2.70, with a volume of 550,474 shares traded.

Abrdn Asia-Pacific Income Fund Stock Down 1.1 %

Abrdn Asia-Pacific Income Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 21st were issued a $0.0275 dividend. The ex-dividend date of this dividend was Friday, June 21st. This represents a $0.33 dividend on an annualized basis and a dividend yield of 12.36%.

Institutional Investors Weigh In On Abrdn Asia-Pacific Income Fund

A number of hedge funds and other institutional investors have recently modified their holdings of FAX. Koshinski Asset Management Inc. purchased a new position in Abrdn Asia-Pacific Income Fund in the 1st quarter worth approximately $30,000. Sar Wealth Management Group LLC bought a new position in Abrdn Asia-Pacific Income Fund in the 4th quarter worth $31,000. CreativeOne Wealth LLC purchased a new stake in shares of Abrdn Asia-Pacific Income Fund in the 1st quarter worth about $38,000. MB Generational Wealth LLC bought a new stake in shares of Abrdn Asia-Pacific Income Fund during the 4th quarter valued at about $56,000. Finally, ORG Partners LLC bought a new position in Abrdn Asia-Pacific Income Fund in the first quarter worth about $81,000. Institutional investors own 33.55% of the company’s stock.

About Abrdn Asia-Pacific Income Fund

(Get Free Report)

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.