Abrdn Asia-Pacific Income Fund (NYSEAMERICAN:FAX) Sees Strong Trading Volume

Shares of Abrdn Asia-Pacific Income Fund Inc (NYSEAMERICAN:FAX) saw unusually-high trading volume on Monday . Approximately 348,845 shares were traded during trading, a decline of 58% from the previous session’s volume of 836,852 shares.The stock last traded at $2.84 and had previously closed at $2.85.

Abrdn Asia-Pacific Income Fund Price Performance

Abrdn Asia-Pacific Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 23rd will be issued a dividend of $0.0275 per share. This represents a $0.33 annualized dividend and a dividend yield of 11.74%. The ex-dividend date is Friday, August 23rd.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of FAX. Ironsides Asset Advisors LLC lifted its holdings in shares of Abrdn Asia-Pacific Income Fund by 9.6% during the first quarter. Ironsides Asset Advisors LLC now owns 80,862 shares of the investment management company’s stock worth $226,000 after purchasing an additional 7,075 shares during the period. J.W. Cole Advisors Inc. lifted its holdings in Abrdn Asia-Pacific Income Fund by 4.0% during the 1st quarter. J.W. Cole Advisors Inc. now owns 183,748 shares of the investment management company’s stock worth $514,000 after buying an additional 7,085 shares during the period. Garner Asset Management Corp grew its position in shares of Abrdn Asia-Pacific Income Fund by 26.1% in the 1st quarter. Garner Asset Management Corp now owns 43,075 shares of the investment management company’s stock valued at $121,000 after buying an additional 8,925 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in shares of Abrdn Asia-Pacific Income Fund by 9.9% in the first quarter. Janney Montgomery Scott LLC now owns 108,223 shares of the investment management company’s stock valued at $303,000 after buying an additional 9,766 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of Abrdn Asia-Pacific Income Fund by 34.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 38,592 shares of the investment management company’s stock worth $103,000 after acquiring an additional 9,885 shares during the last quarter. 33.55% of the stock is currently owned by institutional investors.

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.