abrdn Asia-Pacific Income Fund, Inc. (NYSEAMERICAN:FAX) Declares $0.17 Monthly Dividend

abrdn Asia-Pacific Income Fund, Inc. (NYSEAMERICAN:FAX) declared a monthly dividend on Monday, May 11th. Stockholders of record on Friday, May 22nd will be paid a dividend of 0.165 per share by the investment management company on Friday, May 29th. This represents a c) dividend on an annualized basis and a dividend yield of 13.5%. The ex-dividend date is Friday, May 22nd.

abrdn Asia-Pacific Income Fund Stock Performance

Shares of FAX stock opened at $14.69 on Tuesday. abrdn Asia-Pacific Income Fund has a 52-week low of $14.18 and a 52-week high of $16.90. The firm has a fifty day moving average of $14.98 and a 200-day moving average of $15.31.

Hedge Funds Weigh In On abrdn Asia-Pacific Income Fund

A number of hedge funds have recently made changes to their positions in FAX. Jane Street Group LLC acquired a new position in shares of abrdn Asia-Pacific Income Fund in the 1st quarter valued at $170,000. Corient Private Wealth LLC acquired a new position in shares of abrdn Asia-Pacific Income Fund in the 4th quarter valued at $180,000. Ameriprise Financial Inc. acquired a new position in shares of abrdn Asia-Pacific Income Fund in the 3rd quarter valued at $189,000. Cullen Frost Bankers Inc. raised its stake in shares of abrdn Asia-Pacific Income Fund by 5.6% in the 4th quarter. Cullen Frost Bankers Inc. now owns 12,866 shares of the investment management company’s stock valued at $197,000 after buying an additional 683 shares in the last quarter. Finally, Maridea Wealth Management LLC acquired a new position in shares of abrdn Asia-Pacific Income Fund in the 1st quarter valued at $217,000. Institutional investors and hedge funds 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.