abrdn Asia-Pacific Income Fund (NYSEAMERICAN:FAX) Share Price Crosses Below Fifty Day Moving Average – What’s Next?

abrdn Asia-Pacific Income Fund, Inc. (NYSEAMERICAN:FAX) shares passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $15.34 and traded as low as $15.32. abrdn Asia-Pacific Income Fund shares last traded at $15.39, with a volume of 152,923 shares trading hands.

abrdn Asia-Pacific Income Fund Stock Performance

The business has a 50-day simple moving average of $15.35 and a two-hundred day simple moving average of $15.86.

abrdn Asia-Pacific Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, January 12th. Investors of record on Wednesday, December 31st will be issued a dividend of $0.165 per share. This represents a c) annualized dividend and a yield of 12.7%. The ex-dividend date is Wednesday, December 31st.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Creative Planning lifted its position in shares of abrdn Asia-Pacific Income Fund by 6.9% in the second quarter. Creative Planning now owns 21,167 shares of the investment management company’s stock valued at $337,000 after buying an additional 1,364 shares during the last quarter. Osaic Holdings Inc. increased its position in abrdn Asia-Pacific Income Fund by 1.2% during the second quarter. Osaic Holdings Inc. now owns 139,708 shares of the investment management company’s stock worth $2,224,000 after acquiring an additional 1,623 shares during the period. Moors & Cabot Inc. boosted its holdings in abrdn Asia-Pacific Income Fund by 18.7% in the 2nd quarter. Moors & Cabot Inc. now owns 15,306 shares of the investment management company’s stock valued at $244,000 after purchasing an additional 2,416 shares during the period. Apollon Wealth Management LLC increased its holdings in shares of abrdn Asia-Pacific Income Fund by 13.9% during the third quarter. Apollon Wealth Management LLC now owns 24,374 shares of the investment management company’s stock worth $397,000 after purchasing an additional 2,983 shares during the period. Finally, CoreCap Advisors LLC boosted its stake in shares of abrdn Asia-Pacific Income Fund by 25.3% in the third quarter. CoreCap Advisors LLC now owns 15,040 shares of the investment management company’s stock valued at $245,000 after buying an additional 3,040 shares during the period. Institutional investors own 33.55% of the company’s stock.

abrdn Asia-Pacific Income Fund Company Profile

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.