abrdn Asia-Pacific Income Fund (NYSEAMERICAN:FAX) Stock Crosses Below 200 Day Moving Average – Should You Sell?

Shares of abrdn Asia-Pacific Income Fund, Inc. (NYSEAMERICAN:FAX) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $15.16 and traded as low as $14.30. abrdn Asia-Pacific Income Fund shares last traded at $14.47, with a volume of 244,897 shares trading hands.

abrdn Asia-Pacific Income Fund Stock Performance

The firm has a 50 day simple moving average of $14.74 and a 200 day simple moving average of $15.16.

abrdn Asia-Pacific Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 23rd will be issued a dividend of $0.165 per share. This represents a c) dividend on an annualized basis and a dividend yield of 13.7%. The ex-dividend date of this dividend is Tuesday, June 23rd.

Institutional Investors Weigh In On abrdn Asia-Pacific Income Fund

Several large investors have recently bought and sold shares of the business. Evergreen Capital Management LLC grew its stake in shares of abrdn Asia-Pacific Income Fund by 3.8% in the fourth quarter. Evergreen Capital Management LLC now owns 896,662 shares of the investment management company’s stock worth $13,900,000 after acquiring an additional 33,158 shares during the period. Royal Bank of Canada grew its holdings in abrdn Asia-Pacific Income Fund by 8.0% during 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 during the period. EP Wealth Advisors LLC bought a new position in shares of abrdn Asia-Pacific Income Fund during the 4th quarter valued at approximately $8,659,000. Invesco Ltd. increased its stake in shares of abrdn Asia-Pacific Income Fund by 20.5% in the fourth quarter. Invesco Ltd. now owns 493,021 shares of the investment management company’s stock worth $7,563,000 after purchasing an additional 83,892 shares in the last quarter. Finally, Cetera Investment Advisers increased its stake in abrdn Asia-Pacific Income Fund by 3.7% in the 1st quarter. Cetera Investment Advisers now owns 241,711 shares of the investment management company’s stock worth $3,485,000 after buying an additional 8,650 shares in the last quarter. 33.55% of the stock is currently owned by institutional investors.

About abrdn Asia-Pacific Income Fund

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.