abrdn Asia-Pacific Income Fund, Inc. (NYSEAMERICAN:FAX) Short Interest Up 57.2% in March

abrdn Asia-Pacific Income Fund, Inc. (NYSEAMERICAN:FAX) was the recipient of a significant growth in short interest in the month of March. As of March 31st, there was short interest totaling 271,194 shares, a growth of 57.2% from the March 15th total of 172,477 shares. Based on an average daily volume of 196,853 shares, the days-to-cover ratio is currently 1.4 days. Approximately 0.7% of the company’s shares are sold short.

abrdn Asia-Pacific Income Fund Price Performance

Shares of FAX opened at $14.98 on Tuesday. abrdn Asia-Pacific Income Fund has a 12-month low of $14.18 and a 12-month high of $16.90. The firm has a 50-day moving average price of $15.34 and a 200 day moving average price of $15.42.

abrdn Asia-Pacific Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, April 30th. Investors of record on Wednesday, April 22nd will be issued a $0.165 dividend. The ex-dividend date of this dividend is Wednesday, April 22nd. This represents a c) dividend on an annualized basis and a dividend yield of 13.2%.

Institutional Investors Weigh In On abrdn Asia-Pacific Income Fund

A number of hedge funds have recently modified their holdings of the company. Rockefeller Capital Management L.P. grew its holdings in shares of abrdn Asia-Pacific Income Fund by 3.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 41,385 shares of the investment management company’s stock valued at $635,000 after purchasing an additional 1,228 shares during the period. Corient Private Wealth LLC acquired a new position in abrdn Asia-Pacific Income Fund in the fourth quarter valued at about $180,000. NWF Advisory Services Inc. lifted its position in abrdn Asia-Pacific Income Fund by 3.7% in the fourth quarter. NWF Advisory Services Inc. now owns 100,648 shares of the investment management company’s stock valued at $1,544,000 after buying an additional 3,618 shares during the last quarter. Virtu Financial LLC acquired a new position in abrdn Asia-Pacific Income Fund in the fourth quarter valued at about $545,000. Finally, Invesco Ltd. lifted its position in abrdn Asia-Pacific Income Fund by 20.5% in the fourth quarter. Invesco Ltd. now owns 493,021 shares of the investment management company’s stock valued at $7,563,000 after buying an additional 83,892 shares during the last quarter. Hedge funds and other institutional investors own 33.55% of the company’s stock.

About abrdn Asia-Pacific Income Fund

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.