abrdn Asia-Pacific Income Fund (NYSEAMERICAN:FAX) Sees Strong Trading Volume – Time to Buy?

abrdn Asia-Pacific Income Fund, Inc. (NYSEAMERICAN:FAX) saw unusually-strong trading volume on Friday . Approximately 176,692 shares were traded during trading, an increase of 10% from the previous session’s volume of 160,102 shares.The stock last traded at $15.65 and had previously closed at $15.39.

abrdn Asia-Pacific Income Fund Price Performance

The stock’s 50-day moving average price is $15.35 and its two-hundred day moving average price is $15.86.

abrdn Asia-Pacific Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, January 12th. Shareholders of record on Wednesday, December 31st will be issued a $0.165 dividend. This represents a c) dividend on an annualized basis and a yield of 12.7%. The ex-dividend date is Wednesday, December 31st.

Institutional Trading of abrdn Asia-Pacific Income Fund

A number of hedge funds have recently made changes to their positions in FAX. Penserra Capital Management LLC raised its position in shares of abrdn Asia-Pacific Income Fund by 3.8% in the 3rd quarter. Penserra Capital Management LLC now owns 1,129,578 shares of the investment management company’s stock worth $18,400,000 after purchasing an additional 41,402 shares during the last quarter. Amundi grew its position in abrdn Asia-Pacific Income Fund by 12.4% during the 1st quarter. Amundi now owns 1,005,906 shares of the investment management company’s stock valued at $15,823,000 after purchasing an additional 110,850 shares during the last quarter. Evergreen Capital Management LLC increased its stake in abrdn Asia-Pacific Income Fund by 5.4% during the 2nd quarter. Evergreen Capital Management LLC now owns 882,669 shares of the investment management company’s stock valued at $14,052,000 after purchasing an additional 45,337 shares in the last quarter. Truffle Hound Capital LLC raised its holdings in abrdn Asia-Pacific Income Fund by 20.0% in the second quarter. Truffle Hound Capital LLC now owns 600,000 shares of the investment management company’s stock worth $9,552,000 after buying an additional 100,000 shares during the last quarter. Finally, Cetera Investment Advisers raised its holdings in abrdn Asia-Pacific Income Fund by 3.4% in the second quarter. Cetera Investment Advisers now owns 218,674 shares of the investment management company’s stock worth $3,481,000 after buying an additional 7,173 shares during the last quarter. 33.55% of the stock is owned by institutional investors.

abrdn Asia-Pacific Income Fund Company Profile

The abrdn Asia-Pacific Income Fund is a closed-end management investment company listed on the NYSE American under the ticker FAX. The fund seeks to provide total return by focusing primarily on current income and secondarily on capital appreciation through a diversified portfolio of Asia-Pacific securities.

Its investment portfolio is concentrated in dividend-paying equity securities of companies domiciled or operating in the Asia-Pacific region, excluding Japan. The fund may invest in common stocks, real estate investment trusts (REITs), depositary receipts, convertible securities and derivatives.