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

Abrdn Asia-Pacific Income Fund Inc (NYSEAMERICAN:FAX) was the target of a significant increase in short interest in September. As of September 15th, there was short interest totalling 194,800 shares, an increase of 111.3% from the August 31st total of 92,200 shares. Based on an average trading volume of 152,000 shares, the short-interest ratio is presently 1.3 days.

Abrdn Asia-Pacific Income Fund Trading Up 1.0 %

Shares of FAX stock traded up $0.18 on Friday, reaching $17.49. 157,785 shares of the stock were exchanged, compared to its average volume of 141,790. Abrdn Asia-Pacific Income Fund has a twelve month low of $13.98 and a twelve month high of $17.55.

Abrdn Asia-Pacific Income Fund Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 23rd will be given a $0.165 dividend. This is a boost 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 annualized dividend and a yield of 11.32%.

Hedge Funds Weigh In On Abrdn Asia-Pacific Income Fund

A number of large investors have recently made changes to their positions in the stock. International Assets Investment Management LLC increased its position in shares of Abrdn Asia-Pacific Income Fund by 19.0% in the first quarter. International Assets Investment Management LLC now owns 222,641 shares of the investment management company’s stock valued at $619,000 after buying an additional 35,477 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Abrdn Asia-Pacific Income Fund by 3.9% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 404,916 shares of the investment management company’s stock valued at $1,134,000 after purchasing an additional 15,316 shares in the last quarter. Hartline Investment Corp acquired a new stake in shares of Abrdn Asia-Pacific Income Fund in the first quarter valued at approximately $115,000. J.W. Cole Advisors Inc. increased its stake in shares of Abrdn Asia-Pacific Income Fund by 4.0% during the 1st quarter. J.W. Cole Advisors Inc. now owns 183,748 shares of the investment management company’s stock worth $514,000 after purchasing an additional 7,085 shares in the last quarter. Finally, Private Advisor Group LLC raised its position in shares of Abrdn Asia-Pacific Income Fund by 8.7% during the 1st quarter. Private Advisor Group LLC now owns 271,165 shares of the investment management company’s stock worth $759,000 after purchasing an additional 21,713 shares during the last quarter. Hedge funds and other 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.