abrdn Asia-Pacific Income Fund (NYSEAMERICAN:FAX) Sees Unusually-High Trading Volume – Here’s Why

abrdn Asia-Pacific Income Fund, Inc. (NYSEAMERICAN:FAX) shares saw unusually-high trading volume on Monday . Approximately 169,946 shares changed hands during trading, an increase of 8% from the previous session’s volume of 157,331 shares.The stock last traded at $15.02 and had previously closed at $15.10.

abrdn Asia-Pacific Income Fund Price Performance

The stock has a 50-day moving average of $15.76 and a 200 day moving average of $15.92.

abrdn Asia-Pacific Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 21st will be issued a $0.165 dividend. This represents a c) annualized dividend and a dividend yield of 13.1%. The ex-dividend date of this dividend is Friday, November 21st.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ameriprise Financial Inc. purchased a new stake in abrdn Asia-Pacific Income Fund in the third quarter valued at $189,000. Fisher Asset Management LLC lifted its holdings in shares of abrdn Asia-Pacific Income Fund by 32.8% in the 3rd quarter. Fisher Asset Management LLC now owns 15,616 shares of the investment management company’s stock valued at $254,000 after buying an additional 3,859 shares during the period. US Bancorp DE boosted its stake in shares of abrdn Asia-Pacific Income Fund by 111.0% in the third quarter. US Bancorp DE now owns 63,814 shares of the investment management company’s stock worth $1,040,000 after buying an additional 33,573 shares during the last quarter. Stratos Wealth Advisors LLC grew its holdings in abrdn Asia-Pacific Income Fund by 1.8% during the third quarter. Stratos Wealth Advisors LLC now owns 188,644 shares of the investment management company’s stock worth $3,073,000 after acquiring an additional 3,290 shares during the period. Finally, Penserra Capital Management LLC raised its position in abrdn Asia-Pacific Income Fund by 3.8% during the third quarter. Penserra Capital Management LLC now owns 1,129,578 shares of the investment management company’s stock valued at $18,400,000 after acquiring an additional 41,402 shares in the last quarter. 33.55% of the stock is currently owned by institutional investors and hedge funds.

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.