abrdn Asia-Pacific Income Fund, Inc. (NYSEAMERICAN:FAX) Stock Short Interest Drops 78.7%

abrdn Asia-Pacific Income Fund, Inc. (NYSEAMERICAN:FAX) was the recipient of a large drop in short interest during the month of September. As of September 30th, there was short interest totaling 51,738 shares, a drop of 78.7% from the September 15th total of 242,796 shares. Based on an average daily volume of 227,620 shares, the short-interest ratio is currently 0.2 days. Currently, 0.1% of the company’s shares are short sold.

Institutional Investors Weigh In On abrdn Asia-Pacific Income Fund

Several institutional investors and hedge funds have recently modified their holdings of the company. Rareview Capital LLC lifted its stake in abrdn Asia-Pacific Income Fund by 33.3% during the 1st quarter. Rareview Capital LLC now owns 240,034 shares of the investment management company’s stock worth $3,821,000 after acquiring an additional 59,937 shares in the last quarter. Royal Bank of Canada boosted its holdings in abrdn Asia-Pacific Income Fund by 8.0% during the 1st quarter. Royal Bank of Canada now owns 701,399 shares of the investment management company’s stock valued at $10,114,000 after acquiring an additional 51,803 shares during the period. Advisory Solutions Group LLC purchased a new position in abrdn Asia-Pacific Income Fund during the 2nd quarter valued at about $550,000. Quantinno Capital Management LP acquired a new position in abrdn Asia-Pacific Income Fund in the 1st quarter valued at about $466,000. Finally, Yakira Capital Management Inc. acquired a new position in abrdn Asia-Pacific Income Fund in the 4th quarter valued at about $286,000. Hedge funds and other institutional investors own 33.55% of the company’s stock.

abrdn Asia-Pacific Income Fund Stock Up 0.9%

NYSEAMERICAN FAX traded up $0.12 on Friday, reaching $12.87. The stock had a trading volume of 169,295 shares, compared to its average volume of 247,955. The stock has a fifty day moving average price of $14.09 and a two-hundred day moving average price of $14.45. abrdn Asia-Pacific Income Fund has a 12-month low of $12.60 and a 12-month high of $16.37.

abrdn Asia-Pacific Income Fund Cuts Dividend

The company also recently disclosed a monthly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 22nd were paid a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, September 22nd. This is a drop from abrdn Asia-Pacific Income Fund’s previous monthly dividend of $0.1650. This represents a $1.80 dividend on an annualized basis and a dividend yield of 14.0%.

abrdn Asia-Pacific Income Fund Company Profile

abrdn Asia-Pacific Income Fund, Inc is a closed-end investment company listed on the NYSE American under the symbol FAX. 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, notes and other debt instruments denominated in local or foreign currencies. Its investment exposure can span developed and emerging markets across Asia and the Pacific, including countries such as Australia, China, India, Indonesia, South Korea, Malaysia, New Zealand, the Philippines, Singapore and Thailand.