abrdn Asia-Pacific Income Fund, Inc. (NYSEAMERICAN:FAX) Sees Large Decrease in Short Interest

abrdn Asia-Pacific Income Fund, Inc. (NYSEAMERICAN:FAX) was the target of a significant drop in short interest in the month of September. As of September 30th, there was short interest totaling 51,738 shares, a drop of 78.7% from the September 15th total of 242,796 shares. Based on an average daily trading volume, of 227,620 shares, the short-interest ratio is currently 0.2 days. Approximately 0.1% of the shares of the company are short sold.

Institutional Trading of abrdn Asia-Pacific Income Fund

Several institutional investors have recently modified their holdings of the company. Advisory Solutions Group LLC bought a new stake in shares of abrdn Asia-Pacific Income Fund during the second quarter valued at approximately $550,000. Royal Bank of Canada raised its stake in shares of abrdn Asia-Pacific Income Fund by 8.0% in the first quarter. Royal Bank of Canada now owns 701,399 shares of the investment management company’s stock valued at $10,114,000 after purchasing an additional 51,803 shares in the last quarter. Rareview Capital LLC raised its stake in shares of abrdn Asia-Pacific Income Fund by 33.3% in the first quarter. Rareview Capital LLC now owns 240,034 shares of the investment management company’s stock valued at $3,821,000 after purchasing an additional 59,937 shares in the last quarter. TD Waterhouse Canada Inc. bought a new position in abrdn Asia-Pacific Income Fund in the second quarter worth $43,000. Finally, CoreCap Advisors LLC bought a new position in abrdn Asia-Pacific Income Fund in the second quarter worth $77,000. Institutional investors and hedge funds own 33.55% of the company’s stock.

abrdn Asia-Pacific Income Fund Trading Down 0.2%

FAX traded down $0.02 on Monday, hitting $12.85. 161,098 shares of the stock traded hands, compared to its average volume of 184,120. abrdn Asia-Pacific Income Fund has a 52 week low of $12.60 and a 52 week high of $16.37. The business has a fifty day moving average price of $14.05 and a two-hundred day moving average price of $14.43.

abrdn Asia-Pacific Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 23rd will be issued a dividend of $0.15 per share. This represents a $1.80 annualized dividend and a dividend yield of 14.0%. The ex-dividend date of this dividend is Friday, October 23rd.

About abrdn Asia-Pacific Income Fund

abrdn Asia-Pacific Income Fund, Inc is a closed-end investment company listed on the NYSE American under the symbol FAX. The fund seeks to provide current income and, secondarily, capital appreciation by investing primarily in fixed-income securities issued by governments, government-related entities and companies in the Asia-Pacific region.

The fund’s portfolio may include sovereign and corporate bonds, notes and other debt instruments denominated in local or foreign currencies. Its investment exposure can span developed and emerging markets across Asia and the Pacific, including countries such as Australia, China, India, Indonesia, South Korea, Malaysia, New Zealand, the Philippines, Singapore and Thailand.