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

Abrdn Asia-Pacific Income Fund Inc (NYSEAMERICAN:FAX) was the recipient of a significant growth in short interest in May. As of May 31st, there was short interest totalling 122,600 shares, a growth of 11.4% from the May 15th total of 110,100 shares. Based on an average daily volume of 801,600 shares, the short-interest ratio is currently 0.2 days.

Institutional Investors Weigh In On Abrdn Asia-Pacific Income Fund

Several large investors have recently made changes to their positions in the stock. Cetera Advisors LLC bought a new stake in shares of Abrdn Asia-Pacific Income Fund during the first quarter worth $516,000. Virtu Financial LLC acquired a new position in Abrdn Asia-Pacific Income Fund during the first quarter worth $124,000. Garner Asset Management Corp boosted its holdings in Abrdn Asia-Pacific Income Fund by 26.1% during the first quarter. Garner Asset Management Corp now owns 43,075 shares of the investment management company’s stock worth $121,000 after purchasing an additional 8,925 shares during the last quarter. CreativeOne Wealth LLC acquired a new position in Abrdn Asia-Pacific Income Fund during the first quarter worth $38,000. Finally, Ironsides Asset Advisors LLC boosted its holdings in 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 last quarter. Institutional investors own 33.55% of the company’s stock.

Abrdn Asia-Pacific Income Fund Stock Up 0.4 %

NYSEAMERICAN:FAX traded up $0.01 during trading hours on Tuesday, hitting $2.71. The stock had a trading volume of 583,004 shares, compared to its average volume of 822,583. Abrdn Asia-Pacific Income Fund has a one year low of $2.33 and a one year high of $2.84.

Abrdn Asia-Pacific Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 21st will be given a dividend of $0.0275 per share. This represents a $0.33 annualized dividend and a dividend yield of 12.18%. The ex-dividend date of this dividend is Friday, June 21st.

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.