abrdn Asia-Pacific Income Fund, Inc. (NYSEAMERICAN:FAX) Sees Significant Growth in Short Interest

abrdn Asia-Pacific Income Fund, Inc. (NYSEAMERICAN:FAX) was the recipient of a large increase in short interest during the month of January. As of January 15th, there was short interest totaling 86,060 shares, an increase of 148.4% from the December 31st total of 34,641 shares. Currently, 0.0% of the shares of the stock are sold short. Based on an average trading volume of 261,715 shares, the days-to-cover ratio is currently 0.3 days. Based on an average trading volume of 261,715 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.0% of the shares of the stock are sold short.

abrdn Asia-Pacific Income Fund Stock Performance

abrdn Asia-Pacific Income Fund stock traded up $0.04 during mid-day trading on Friday, hitting $15.79. The company’s stock had a trading volume of 265,568 shares, compared to its average volume of 243,488. The business has a 50 day moving average price of $15.37 and a 200-day moving average price of $15.77. abrdn Asia-Pacific Income Fund has a 12 month low of $13.99 and a 12 month high of $16.90.

abrdn Asia-Pacific Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Friday, January 30th. Stockholders of record on Friday, January 23rd were issued a dividend of $0.165 per share. This represents a c) dividend on an annualized basis and a dividend yield of 12.5%. The ex-dividend date was Friday, January 23rd.

Institutional Investors Weigh In On abrdn Asia-Pacific Income Fund

A number of hedge funds have recently added to or reduced their stakes in FAX. IFG Advisory LLC bought a new stake in shares of abrdn Asia-Pacific Income Fund during the 2nd quarter valued at $166,000. Jane Street Group LLC purchased a new position in abrdn Asia-Pacific Income Fund during the first quarter valued at $170,000. Fisher Asset Management LLC bought a new stake in abrdn Asia-Pacific Income Fund during the second quarter valued at about $187,000. Ameriprise Financial Inc. purchased a new stake in abrdn Asia-Pacific Income Fund in the third quarter worth about $189,000. Finally, Moors & Cabot Inc. raised its stake in shares of abrdn Asia-Pacific Income Fund by 18.7% in the second quarter. Moors & Cabot Inc. now owns 15,306 shares of the investment management company’s stock worth $244,000 after buying an additional 2,416 shares during the period. 33.55% of the stock is currently owned by hedge funds and other institutional investors.

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.