Franklin Resources Inc. Buys 121,790 Shares of abrdn Asia-Pacific Income Fund, Inc. $FAX

Franklin Resources Inc. boosted its position in shares of abrdn Asia-Pacific Income Fund, Inc. (NYSEAMERICAN:FAX) by 135.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 211,903 shares of the investment management company’s stock after acquiring an additional 121,790 shares during the period. Franklin Resources Inc. owned 0.09% of abrdn Asia-Pacific Income Fund worth $3,373,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Cetera Investment Advisers increased its stake in shares of abrdn Asia-Pacific Income Fund by 1.1% in the first quarter. Cetera Investment Advisers now owns 211,501 shares of the investment management company’s stock worth $3,321,000 after purchasing an additional 2,255 shares in the last quarter. Leigh Baldwin & CO. LLC purchased a new position in shares of abrdn Asia-Pacific Income Fund during the 1st quarter valued at $160,000. Ethos Financial Group LLC bought a new position in abrdn Asia-Pacific Income Fund in the 1st quarter worth $575,000. SFI Advisors LLC increased its stake in abrdn Asia-Pacific Income Fund by 112.1% in the 1st quarter. SFI Advisors LLC now owns 31,655 shares of the investment management company’s stock worth $497,000 after buying an additional 16,730 shares in the last quarter. Finally, Amundi increased its stake in abrdn Asia-Pacific Income Fund by 12.4% in the 1st quarter. Amundi now owns 1,005,906 shares of the investment management company’s stock worth $15,823,000 after buying an additional 110,850 shares in the last quarter. Hedge funds and other institutional investors own 33.55% of the company’s stock.

abrdn Asia-Pacific Income Fund Stock Performance

Shares of abrdn Asia-Pacific Income Fund stock opened at $15.24 on Wednesday. The stock’s 50-day simple moving average is $15.56 and its 200-day simple moving average is $15.90. abrdn Asia-Pacific Income Fund, Inc. has a 52 week low of $13.99 and a 52 week high of $16.90.

abrdn Asia-Pacific Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 21st were paid a $0.165 dividend. This represents a c) annualized dividend and a yield of 13.0%. The ex-dividend date was Friday, November 21st.

abrdn Asia-Pacific Income Fund 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.