Abrdn Asia-Pacific Income Fund (NYSEAMERICAN:FAX) Reaches New 52-Week High at $17.44

Abrdn Asia-Pacific Income Fund Inc (NYSEAMERICAN:FAX) hit a new 52-week high on Wednesday . The company traded as high as $17.44 and last traded at $17.38, with a volume of 159063 shares changing hands. The stock had previously closed at $17.28.

Abrdn Asia-Pacific Income Fund Trading Up 0.3 %

Abrdn Asia-Pacific Income Fund Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 23rd will be paid a dividend of $0.165 per share. This is an increase from Abrdn Asia-Pacific Income Fund’s previous monthly dividend of $0.03. The ex-dividend date is Monday, September 23rd. This represents a $1.98 dividend on an annualized basis and a dividend yield of 11.42%.

Hedge Funds Weigh In On Abrdn Asia-Pacific Income Fund

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Ironsides Asset Advisors LLC increased its stake in shares of 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 valued at $226,000 after purchasing an additional 7,075 shares in the last quarter. J.W. Cole Advisors Inc. increased its stake in shares of Abrdn Asia-Pacific Income Fund by 4.0% during the first quarter. J.W. Cole Advisors Inc. now owns 183,748 shares of the investment management company’s stock valued at $514,000 after purchasing an additional 7,085 shares in the last quarter. Garner Asset Management Corp grew its holdings in shares of 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 valued at $121,000 after buying an additional 8,925 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Abrdn Asia-Pacific Income Fund by 9.9% during the first quarter. Janney Montgomery Scott LLC now owns 108,223 shares of the investment management company’s stock valued at $303,000 after buying an additional 9,766 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of Abrdn Asia-Pacific Income Fund by 34.4% during 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 buying an additional 9,885 shares during the last quarter. Institutional investors own 33.55% of the company’s stock.

Abrdn Asia-Pacific Income Fund Company Profile

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.