abrdn Asia-Pacific Income Fund (NYSEAMERICAN:FAX) Reaches New 1-Year Low – What’s Next?

abrdn Asia-Pacific Income Fund, Inc. (NYSEAMERICAN:FAX)’s stock price reached a new 52-week low during trading on Monday . The company traded as low as $14.11 and last traded at $14.0330, with a volume of 103750 shares traded. The stock had previously closed at $14.42.

abrdn Asia-Pacific Income Fund Stock Performance

The business’s 50 day simple moving average is $14.54 and its two-hundred day simple moving average is $14.73.

abrdn Asia-Pacific Income Fund Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 22nd will be issued a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, September 22nd. This represents a c) annualized dividend and a dividend yield of 12.9%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. TD Waterhouse Canada Inc. purchased a new position in abrdn Asia-Pacific Income Fund in the second quarter worth about $43,000. CoreCap Advisors LLC purchased a new stake in shares of abrdn Asia-Pacific Income Fund during the 2nd quarter valued at about $77,000. Jane Street Group LLC bought a new position in shares of abrdn Asia-Pacific Income Fund in the 1st quarter worth approximately $170,000. Corient Private Wealth LLC bought a new position in shares of abrdn Asia-Pacific Income Fund in the 4th quarter worth approximately $180,000. Finally, Ameriprise Financial Inc. purchased a new position in shares of abrdn Asia-Pacific Income Fund in the third quarter worth approximately $189,000. Institutional investors own 33.55% of the company’s stock.

abrdn Asia-Pacific Income Fund Company Profile

abrdn Asia-Pacific Income Fund (NYSE American: FAX) is a closed-end investment fund managed by abrdn. The fund seeks to provide current income and, secondarily, capital appreciation by investing primarily in fixed-income securities issued by governments, government-related entities and companies in the Asia-Pacific region.

The fund’s portfolio may include sovereign and corporate bonds, emerging-market debt and other income-producing securities denominated in local or foreign currencies.