Gridiron Partners LLC Cuts Stock Position in abrdn Asia-Pacific Income Fund, Inc. $FAX

Gridiron Partners LLC trimmed its holdings in shares of abrdn Asia-Pacific Income Fund, Inc. (NYSEAMERICAN:FAX) by 92.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,986 shares of the investment management company’s stock after selling 369,811 shares during the quarter. Gridiron Partners LLC’s holdings in abrdn Asia-Pacific Income Fund were worth $460,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in FAX. Penserra Capital Management LLC increased its holdings in 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 acquiring an additional 41,402 shares in the last quarter. Evergreen Capital Management LLC lifted its holdings in abrdn Asia-Pacific Income Fund by 5.4% during the second 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. Cetera Investment Advisers lifted its holdings in abrdn Asia-Pacific Income Fund by 3.4% during the second quarter. Cetera Investment Advisers now owns 218,674 shares of the investment management company’s stock valued at $3,481,000 after purchasing an additional 7,173 shares in the last quarter. Franklin Resources Inc. grew its position in shares of abrdn Asia-Pacific Income Fund by 135.2% in the second quarter. Franklin Resources Inc. now owns 211,903 shares of the investment management company’s stock valued at $3,373,000 after purchasing an additional 121,790 shares during the period. Finally, Stratos Wealth Advisors LLC grew its position in shares of abrdn Asia-Pacific Income Fund by 1.8% in the third quarter. Stratos Wealth Advisors LLC now owns 188,644 shares of the investment management company’s stock valued at $3,073,000 after purchasing an additional 3,290 shares during the period. Hedge funds and other institutional investors own 33.55% of the company’s stock.

abrdn Asia-Pacific Income Fund Price Performance

FAX stock opened at $14.72 on Friday. abrdn Asia-Pacific Income Fund, Inc. has a 52 week low of $13.99 and a 52 week high of $16.90. The firm has a 50-day simple moving average of $15.62 and a 200-day simple moving average of $15.64.

abrdn Asia-Pacific Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 24th will be paid a dividend of $0.165 per share. This represents a c) annualized dividend and a yield of 13.5%. The ex-dividend date is Tuesday, March 24th.

abrdn Asia-Pacific Income Fund 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.