abrdn Asia-Pacific Income Fund, Inc. (NYSEAMERICAN:FAX) Short Interest Update

abrdn Asia-Pacific Income Fund, Inc. (NYSEAMERICAN:FAX) was the target of a large growth in short interest in July. As of July 15th, there was short interest totaling 223,313 shares, a growth of 66.5% from the June 30th total of 134,111 shares. Approximately 0.5% of the shares of the stock are short sold. Based on an average daily volume of 103,340 shares, the short-interest ratio is currently 2.2 days.

abrdn Asia-Pacific Income Fund Stock Up 0.3%

FAX stock traded up $0.04 during mid-day trading on Friday, reaching $14.50. 156,946 shares of the company traded hands, compared to its average volume of 188,241. abrdn Asia-Pacific Income Fund has a 52-week low of $14.13 and a 52-week high of $16.90. The company has a fifty day moving average price of $14.51 and a 200-day moving average price of $14.99.

abrdn Asia-Pacific Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, July 31st. Stockholders of record on Thursday, July 23rd will be given a $0.165 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 13.7%. The ex-dividend date is Thursday, July 23rd.

Hedge Funds Weigh In On abrdn Asia-Pacific Income Fund

Several hedge funds have recently bought and sold shares of the company. CoreCap Advisors LLC purchased a new stake in abrdn Asia-Pacific Income Fund in the 2nd quarter worth approximately $77,000. Bank of America Corp DE grew its position in shares of abrdn Asia-Pacific Income Fund by 4.4% during the 1st quarter. Bank of America Corp DE now owns 62,345 shares of the investment management company’s stock valued at $899,000 after purchasing an additional 2,600 shares in the last quarter. Royal Bank of Canada grew its position in shares of abrdn Asia-Pacific Income Fund by 8.0% during the 1st quarter. Royal Bank of Canada now owns 701,399 shares of the investment management company’s stock valued at $10,114,000 after purchasing an additional 51,803 shares in the last quarter. Quantinno Capital Management LP bought a new position in shares of abrdn Asia-Pacific Income Fund in the first quarter worth $466,000. Finally, Cetera Investment Advisers raised its position in shares of abrdn Asia-Pacific Income Fund by 3.7% in the first quarter. Cetera Investment Advisers now owns 241,711 shares of the investment management company’s stock worth $3,485,000 after buying an additional 8,650 shares in the last quarter. Hedge funds and other institutional investors own 33.55% of the company’s stock.

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.