Royal Bank of Canada Acquires 51,803 Shares of abrdn Asia-Pacific Income Fund, Inc. $FAX

Royal Bank of Canada raised its holdings in shares of abrdn Asia-Pacific Income Fund, Inc. (NYSEAMERICAN:FAX) by 8.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 701,399 shares of the investment management company’s stock after buying an additional 51,803 shares during the quarter. Royal Bank of Canada owned about 1.70% of abrdn Asia-Pacific Income Fund worth $10,114,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Shaker Financial Services LLC purchased a new position in shares of abrdn Asia-Pacific Income Fund during the fourth quarter worth about $1,555,000. Rareview Capital LLC purchased a new stake in abrdn Asia-Pacific Income Fund in the fourth quarter valued at approximately $2,867,000. Evergreen Capital Management LLC lifted its position in abrdn Asia-Pacific Income Fund by 3.8% during the fourth quarter. Evergreen Capital Management LLC now owns 896,662 shares of the investment management company’s stock valued at $13,900,000 after purchasing an additional 33,158 shares during the last quarter. Landscape Capital Management L.L.C. bought a new stake in abrdn Asia-Pacific Income Fund during the fourth quarter valued at approximately $227,000. Finally, Ameriprise Financial Inc. purchased a new position in abrdn Asia-Pacific Income Fund in the 3rd quarter worth approximately $189,000. 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 $14.53 on Monday. The firm has a 50 day simple moving average of $14.48 and a two-hundred day simple moving average of $14.95. abrdn Asia-Pacific Income Fund, Inc. has a one year low of $14.13 and a one year high of $16.90.

abrdn Asia-Pacific Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Friday, July 31st. Investors of record on Thursday, July 23rd were given a $0.165 dividend. The ex-dividend date was Thursday, July 23rd. This represents a c) annualized dividend and a yield of 13.6%.

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.