Short Interest in Abrdn Asia-Pacific Income Fund Inc (NYSEAMERICAN:FAX) Drops By 57.9%

Abrdn Asia-Pacific Income Fund Inc (NYSEAMERICAN:FAX) was the target of a large decrease in short interest in the month of November. As of November 15th, there was short interest totalling 40,500 shares, a decrease of 57.9% from the October 31st total of 96,200 shares. Based on an average trading volume of 148,000 shares, the short-interest ratio is presently 0.3 days.

Abrdn Asia-Pacific Income Fund Stock Performance

NYSEAMERICAN FAX traded up $0.04 during trading hours on Thursday, hitting $15.76. 259,504 shares of the company’s stock traded hands, compared to its average volume of 142,962. Abrdn Asia-Pacific Income Fund has a 52 week low of $14.88 and a 52 week high of $17.55.

Abrdn Asia-Pacific Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 29th. Stockholders of record on Thursday, November 21st will be given a dividend of $0.165 per share. The ex-dividend date is Thursday, November 21st. This represents a $1.98 dividend on an annualized basis and a dividend yield of 12.56%.

Institutional Investors Weigh In On Abrdn Asia-Pacific Income Fund

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FAX. Virtu Financial LLC purchased a new stake in Abrdn Asia-Pacific Income Fund in the 1st quarter worth $124,000. Cetera Advisors LLC purchased a new stake in shares of Abrdn Asia-Pacific Income Fund during the first quarter worth about $516,000. Park Avenue Securities LLC grew its position in shares of Abrdn Asia-Pacific Income Fund by 9.2% during the second quarter. Park Avenue Securities LLC now owns 520,837 shares of the investment management company’s stock worth $1,396,000 after purchasing an additional 44,010 shares in the last quarter. Integrated Capital Management Inc. raised its stake in Abrdn Asia-Pacific Income Fund by 40.9% during the 2nd quarter. Integrated Capital Management Inc. now owns 106,594 shares of the investment management company’s stock valued at $286,000 after purchasing an additional 30,925 shares during the period. Finally, Melfa Wealth Management Inc. lifted its holdings in Abrdn Asia-Pacific Income Fund by 49.5% in the 2nd quarter. Melfa Wealth Management Inc. now owns 52,859 shares of the investment management company’s stock worth $142,000 after purchasing an additional 17,500 shares in the last quarter. 33.55% of the stock is owned by hedge funds and other institutional investors.

About Abrdn Asia-Pacific Income Fund

Abrdn Asia-Pacific Income Fund Inc is a close ended fixed income mutual fund launched and managed by Aberdeen Standard Investments (Asia) Limited. It is co-managed by Aberdeen Standard Investments Australia Limited and Aberdeen Asset Managers Limited. The fund invests in fixed income markets of Asia, Australia, and New Zeland.