abrdn Asia-Pacific Income Fund (NYSEAMERICAN:FAX) Sets New 12-Month Low – Should You Sell?

abrdn Asia-Pacific Income Fund, Inc. (NYSEAMERICAN:FAX)’s stock price hit a new 52-week low during mid-day trading on Wednesday. The company traded as low as $12.57 and last traded at $12.5850, with a volume of 87,227 shares trading hands. The stock had previously closed at $12.81.

abrdn Asia-Pacific Income Fund Stock Down 1.4%

The company has a 50 day moving average price of $14.02 and a 200-day moving average price of $14.42.

abrdn Asia-Pacific Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, October 30th. Investors of record on Friday, October 23rd will be issued a $0.15 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 14.2%. The ex-dividend date is Friday, October 23rd.

Hedge Funds Weigh In On abrdn Asia-Pacific Income Fund

Several institutional investors have recently made changes to their positions in FAX. TD Waterhouse Canada Inc. purchased a new position in shares of abrdn Asia-Pacific Income Fund in the second quarter worth about $43,000. CoreCap Advisors LLC purchased a new stake in shares of abrdn Asia-Pacific Income Fund during the 2nd quarter valued at $77,000. Maridea Wealth Management LLC bought a new position in shares of abrdn Asia-Pacific Income Fund during the 1st quarter valued at about $217,000. Nwam LLC boosted its stake in abrdn Asia-Pacific Income Fund by 10.5% in the first quarter. Nwam LLC now owns 29,522 shares of the investment management company’s stock worth $426,000 after buying an additional 2,795 shares in the last quarter. Finally, Quantinno Capital Management LP bought a new position in shares of abrdn Asia-Pacific Income Fund during the 1st quarter valued at $466,000. Institutional investors and hedge funds own 33.55% of the company’s stock.

About abrdn Asia-Pacific Income Fund

abrdn Asia-Pacific Income Fund, Inc is a closed-end investment company listed on the NYSE American under the symbol FAX. The fund seeks to provide current income and, secondarily, capital appreciation by investing primarily in fixed-income securities issued by governments, government-related entities and companies in the Asia-Pacific region.

The fund’s portfolio may include sovereign and corporate bonds, notes and other debt instruments denominated in local or foreign currencies. Its investment exposure can span developed and emerging markets across Asia and the Pacific, including countries such as Australia, China, India, Indonesia, South Korea, Malaysia, New Zealand, the Philippines, Singapore and Thailand.