Abrdn Asia-Pacific Income Fund Inc (NYSEAMERICAN:FAX) Short Interest Up 55.8% in December

Abrdn Asia-Pacific Income Fund Inc (NYSEAMERICAN:FAX) was the target of a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 32,100 shares, a growth of 55.8% from the December 15th total of 20,600 shares. Based on an average trading volume of 166,900 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Evergreen Capital Management LLC grew its position in Abrdn Asia-Pacific Income Fund by 6.9% in the second quarter. Evergreen Capital Management LLC now owns 4,524,105 shares of the investment management company’s stock valued at $12,125,000 after purchasing an additional 293,929 shares in the last quarter. EP Wealth Advisors LLC boosted its stake in shares of Abrdn Asia-Pacific Income Fund by 792.8% during the 3rd quarter. EP Wealth Advisors LLC now owns 1,047,760 shares of the investment management company’s stock worth $18,231,000 after buying an additional 930,402 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its holdings 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 valued at $1,136,000 after acquiring an additional 19,005 shares in the last quarter. Private Advisor Group LLC increased its position in shares of Abrdn Asia-Pacific Income Fund by 7.1% in the second quarter. Private Advisor Group LLC now owns 290,528 shares of the investment management company’s stock valued at $779,000 after acquiring an additional 19,363 shares during the last quarter. Finally, Pekin Hardy Strauss Inc. raised its holdings in Abrdn Asia-Pacific Income Fund by 9.3% during the second quarter. Pekin Hardy Strauss Inc. now owns 235,571 shares of the investment management company’s stock worth $631,000 after acquiring an additional 20,000 shares in the last quarter. 33.55% of the stock is currently owned by institutional investors.

Abrdn Asia-Pacific Income Fund Trading Down 0.2 %

Shares of FAX traded down $0.03 on Friday, hitting $15.25. The company’s stock had a trading volume of 162,869 shares, compared to its average volume of 169,370. Abrdn Asia-Pacific Income Fund has a fifty-two week low of $14.56 and a fifty-two week high of $17.55.

Abrdn Asia-Pacific Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 24th will be paid a $0.165 dividend. This represents a $1.98 annualized dividend and a dividend yield of 12.98%. The ex-dividend date of this dividend is Friday, January 24th.

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.