Abrdn Asia-Pacific Income Fund Inc (NYSEAMERICAN:FAX) Sees Significant Growth in Short Interest

Abrdn Asia-Pacific Income Fund Inc (NYSEAMERICAN:FAX) was the recipient of a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 184,100 shares, a growth of 55.1% from the February 29th total of 118,700 shares. Based on an average daily trading volume, of 813,900 shares, the short-interest ratio is presently 0.2 days.

Abrdn Asia-Pacific Income Fund Trading Up 1.1 %

Shares of FAX traded up $0.03 during mid-day trading on Friday, reaching $2.80. 1,085,472 shares of the stock traded hands, compared to its average volume of 564,820. Abrdn Asia-Pacific Income Fund has a 12-month low of $2.33 and a 12-month high of $2.84.

Abrdn Asia-Pacific Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 21st were paid a $0.0275 dividend. The ex-dividend date was Wednesday, March 20th. This represents a $0.33 dividend on an annualized basis and a dividend yield of 11.79%.

Institutional Trading of Abrdn Asia-Pacific Income Fund

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Envestnet Asset Management Inc. increased its stake in shares of Abrdn Asia-Pacific Income Fund by 4.2% in the second quarter. Envestnet Asset Management Inc. now owns 488,076 shares of the investment management company’s stock worth $1,318,000 after buying an additional 19,589 shares during the last quarter. Ironsides Asset Advisors LLC increased its stake in Abrdn Asia-Pacific Income Fund by 50.2% during the third quarter. Ironsides Asset Advisors LLC now owns 67,982 shares of the investment management company’s stock valued at $167,000 after purchasing an additional 22,717 shares during the last quarter. Advisor Partners II LLC bought a new stake in Abrdn Asia-Pacific Income Fund during the third quarter valued at $4,417,000. Evanson Asset Management LLC increased its stake in Abrdn Asia-Pacific Income Fund by 1.3% during the third quarter. Evanson Asset Management LLC now owns 736,806 shares of the investment management company’s stock valued at $1,805,000 after purchasing an additional 9,524 shares during the last quarter. Finally, International Assets Investment Management LLC increased its stake in Abrdn Asia-Pacific Income Fund by 4.1% during the third quarter. International Assets Investment Management LLC now owns 212,610 shares of the investment management company’s stock valued at $525,000 after purchasing an additional 8,300 shares during the last quarter. Institutional investors own 33.55% of the company’s stock.

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.