abrdn Asian Income Fund (LON:AAIF) Hits New 12-Month High – Should You Buy?

abrdn Asian Income Fund (LON:AAIF) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as GBX 226 ($2.76) and last traded at GBX 223 ($2.72), with a volume of 305706 shares. The stock had previously closed at GBX 222 ($2.71).

abrdn Asian Income Fund Stock Performance

The stock’s fifty day simple moving average is GBX 219.87 and its two-hundred day simple moving average is GBX 216.82. The company has a market cap of £343.24 million, a price-to-earnings ratio of 785.71 and a beta of 0.70. The company has a debt-to-equity ratio of 8.19, a quick ratio of 0.11 and a current ratio of 0.26.

abrdn Asian Income Fund Announces Dividend

The company also recently announced a dividend, which was paid on Friday, November 22nd. Investors of record on Thursday, October 24th were issued a GBX 2.55 ($0.03) dividend. This represents a yield of 1.16%. The ex-dividend date was Thursday, October 24th. abrdn Asian Income Fund’s payout ratio is currently 4,285.71%.

Insiders Place Their Bets

In related news, insider Ian Cadby acquired 8,000 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were bought at an average cost of GBX 223 ($2.72) per share, with a total value of £17,840 ($21,782.66). 3.64% of the stock is currently owned by insiders.

About abrdn Asian Income Fund

Aberdeen Asian Income Fund Limited is a closed ended balanced mutual fund launched by Aberdeen Private Wealth Management Limited. It is managed by Aberdeen Standard Investments (Asia) Limited. The fund invests in the public equity and fixed income markets of the Asia Pacific Region. It seeks to invest in the stocks of companies operating across diversified sectors.