Royal Bank of Canada Buys 51,803 Shares of abrdn Asia-Pacific Income Fund, Inc. $FAX

Royal Bank of Canada boosted its stake in shares of abrdn Asia-Pacific Income Fund, Inc. (NYSEAMERICAN:FAX) by 8.0% in the 1st quarter, HoldingsChannel reports. The fund owned 701,399 shares of the investment management company’s stock after buying an additional 51,803 shares during the quarter. Royal Bank of Canada’s holdings in abrdn Asia-Pacific Income Fund were worth $10,114,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Shaker Financial Services LLC purchased a new position in abrdn Asia-Pacific Income Fund in the 4th quarter worth approximately $1,555,000. Rareview Capital LLC bought a new stake in abrdn Asia-Pacific Income Fund in the fourth quarter valued at approximately $2,867,000. Evergreen Capital Management LLC boosted its stake in shares of abrdn Asia-Pacific Income Fund by 3.8% during the fourth quarter. Evergreen Capital Management LLC now owns 896,662 shares of the investment management company’s stock valued at $13,900,000 after purchasing an additional 33,158 shares during the period. Maridea Wealth Management LLC purchased a new stake in shares of abrdn Asia-Pacific Income Fund during the first quarter valued at approximately $217,000. Finally, NWF Advisory Services Inc. grew its holdings in shares of abrdn Asia-Pacific Income Fund by 3.7% in the fourth quarter. NWF Advisory Services Inc. now owns 100,648 shares of the investment management company’s stock worth $1,544,000 after purchasing an additional 3,618 shares during the last quarter. 33.55% of the stock is currently owned by institutional investors.

abrdn Asia-Pacific Income Fund Price Performance

Shares of NYSEAMERICAN FAX opened at $14.53 on Monday. abrdn Asia-Pacific Income Fund, Inc. has a 52 week low of $14.13 and a 52 week high of $16.90. The firm’s fifty day moving average is $14.48 and its 200 day moving average is $14.95.

abrdn Asia-Pacific Income Fund Announces Dividend

The company also recently declared a monthly dividend, which was paid on Friday, July 31st. Shareholders of record on Thursday, July 23rd were issued a $0.165 dividend. This represents a c) dividend on an annualized basis and a yield of 13.6%. The ex-dividend date of this dividend was Thursday, July 23rd.

abrdn Asia-Pacific Income Fund Profile

The abrdn Asia-Pacific Income Fund is a closed-end management investment company listed on the NYSE American under the ticker FAX. The fund seeks to provide total return by focusing primarily on current income and secondarily on capital appreciation through a diversified portfolio of Asia-Pacific securities.

Its investment portfolio is concentrated in dividend-paying equity securities of companies domiciled or operating in the Asia-Pacific region, excluding Japan. The fund may invest in common stocks, real estate investment trusts (REITs), depositary receipts, convertible securities and derivatives.