abrdn Asia-Pacific Income Fund (NYSEAMERICAN:FAX) Hits New 52-Week Low – Should You Sell?

abrdn Asia-Pacific Income Fund, Inc. (NYSEAMERICAN:FAX) reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $14.18 and last traded at $14.1790, with a volume of 98745 shares. The stock had previously closed at $14.25.

abrdn Asia-Pacific Income Fund Stock Up 0.1%

The firm’s fifty day simple moving average is $14.74 and its 200 day simple moving average is $15.20.

abrdn Asia-Pacific Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 22nd were paid a $0.165 dividend. The ex-dividend date of this dividend was Friday, May 22nd. This represents a c) dividend on an annualized basis and a yield of 13.9%.

Institutional Trading of abrdn Asia-Pacific Income Fund

Several large investors have recently added to or reduced their stakes in FAX. Jane Street Group LLC purchased a new stake in shares of abrdn Asia-Pacific Income Fund in the first quarter valued at $170,000. Corient Private Wealth LLC purchased a new position in shares of abrdn Asia-Pacific Income Fund during the fourth quarter valued at $180,000. Ameriprise Financial Inc. acquired a new position in abrdn Asia-Pacific Income Fund during the third quarter valued at $189,000. Cullen Frost Bankers Inc. raised its position in abrdn Asia-Pacific Income Fund by 5.6% during the fourth 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 during the period. Finally, Maridea Wealth Management LLC purchased a new stake in abrdn Asia-Pacific Income Fund in the 1st quarter worth about $217,000. 33.55% of the stock is owned by institutional investors and hedge funds.

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.