Abrdn Asia-Pacific Income Fund (NYSEAMERICAN:FAX) Hits New 12-Month Low - Should You Sell?

Abrdn Asia-Pacific Income Fund Inc (NYSEAMERICAN:FAX - Get Free Report) reached a new 52-week low on Tuesday . The company traded as low as $14.60 and last traded at $14.62, with a volume of 60446 shares traded. The stock had previously closed at $14.83.

Abrdn Asia-Pacific Income Fund Stock Down 0.7 %

Abrdn Asia-Pacific Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, January 10th. Investors of record on Monday, December 30th will be paid a $0.165 dividend. This represents a $1.98 dividend on an annualized basis and a dividend yield of 13.44%. The ex-dividend date is Monday, December 30th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of FAX. Wilmington Savings Fund Society FSB acquired a new position in Abrdn Asia-Pacific Income Fund during the 3rd quarter valued at $55,000. Centaurus Financial Inc. bought a new position in Abrdn Asia-Pacific Income Fund during the third quarter valued at about $101,000. Northwestern Mutual Wealth Management Co. increased its stake in Abrdn Asia-Pacific Income Fund by 34.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 38,592 shares of the investment management company's stock valued at $103,000 after acquiring an additional 9,885 shares during the period. Garner Asset Management Corp raised its holdings in Abrdn Asia-Pacific Income Fund by 33.5% in the 3rd quarter. Garner Asset Management Corp now owns 55,884 shares of the investment management company's stock valued at $972,000 after acquiring an additional 14,009 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. lifted its position in shares of Abrdn Asia-Pacific Income Fund by 4.7% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 423,921 shares of the investment management company's stock worth $1,136,000 after acquiring an additional 19,005 shares during the period. Institutional investors own 33.55% of the company's stock.

Abrdn Asia-Pacific Income Fund Company Profile

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.