Abrdn Asia-Pacific Income Fund (NYSEAMERICAN:FAX) Sees Large Volume Increase

Abrdn Asia-Pacific Income Fund Inc (NYSEAMERICAN:FAX) shares saw strong trading volume on Monday . 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 Trading Down 0.4 %

Abrdn Asia-Pacific Income Fund Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Friday, August 23rd. This represents a $0.33 dividend on an annualized basis and a dividend yield of 11.70%.

Hedge Funds Weigh In On Abrdn Asia-Pacific Income Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. raised its position in Abrdn Asia-Pacific Income Fund by 34.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 38,592 shares of the investment management company’s stock valued at $103,000 after buying an additional 9,885 shares during the last quarter. Evergreen Capital Management LLC grew its stake in shares of Abrdn Asia-Pacific Income Fund by 6.9% during the 2nd quarter. Evergreen Capital Management LLC now owns 4,524,105 shares of the investment management company’s stock worth $12,125,000 after acquiring an additional 293,929 shares in the last quarter. AE Wealth Management LLC acquired a new stake in shares of Abrdn Asia-Pacific Income Fund in the second quarter valued at approximately $54,000. Benjamin F. Edwards & Company Inc. lifted its position in shares of Abrdn Asia-Pacific Income Fund by 4.7% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 423,921 shares of the investment management company’s stock worth $1,136,000 after purchasing an additional 19,005 shares in the last quarter. Finally, Pekin Hardy Strauss Inc. boosted its holdings in Abrdn Asia-Pacific Income Fund by 9.3% during the second quarter. Pekin Hardy Strauss Inc. now owns 235,571 shares of the investment management company’s stock worth $631,000 after purchasing an additional 20,000 shares during the last quarter. 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.