Abrdn Asia-Pacific Income Fund (NYSEAMERICAN:FAX) Reaches New 12-Month Low – Here’s What Happened

Abrdn Asia-Pacific Income Fund Inc (NYSEAMERICAN:FAX)’s share price reached a new 52-week low during trading on Tuesday . The company traded as low as $14.60 and last traded at $14.62, with a volume of 60446 shares. The stock had previously closed at $14.83.

Abrdn Asia-Pacific Income Fund Stock Performance

Abrdn Asia-Pacific Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, January 10th. Stockholders of record on Monday, December 30th will be paid a $0.165 dividend. The ex-dividend date of this dividend is Monday, December 30th. This represents a $1.98 annualized dividend and a dividend yield of 13.23%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in FAX. AE Wealth Management LLC acquired a new position in shares of Abrdn Asia-Pacific Income Fund during the second quarter valued at about $54,000. Wilmington Savings Fund Society FSB acquired a new position in Abrdn Asia-Pacific Income Fund during the 3rd quarter valued at about $55,000. Centaurus Financial Inc. purchased a new stake in shares of Abrdn Asia-Pacific Income Fund in the third quarter worth approximately $101,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Abrdn Asia-Pacific Income Fund by 34.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 38,592 shares of the investment management company’s stock valued at $103,000 after purchasing an additional 9,885 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in shares of Abrdn Asia-Pacific Income Fund during the second quarter valued at approximately $142,000. 33.55% of the stock is owned by institutional investors and hedge funds.

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.