abrdn Asia-Pacific Income Fund (NYSEAMERICAN:FAX) Shares Pass Below 200-Day Moving Average – Here’s Why

abrdn Asia-Pacific Income Fund, Inc. (NYSEAMERICAN:FAX)’s share price passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $15.16 and traded as low as $14.30. abrdn Asia-Pacific Income Fund shares last traded at $14.47, with a volume of 244,897 shares.

abrdn Asia-Pacific Income Fund Stock Down 0.1%

The business has a 50 day moving average price of $14.74 and a 200 day moving average price of $15.16.

abrdn Asia-Pacific Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd will be paid a $0.165 dividend. The ex-dividend date is Tuesday, June 23rd. This represents a c) dividend on an annualized basis and a yield of 13.7%.

Institutional Trading of abrdn Asia-Pacific Income Fund

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Cullen Frost Bankers Inc. raised its holdings in abrdn Asia-Pacific Income Fund by 5.6% in the fourth quarter. Cullen Frost Bankers Inc. now owns 12,866 shares of the investment management company’s stock worth $197,000 after buying an additional 683 shares during the last quarter. Kestra Advisory Services LLC grew its holdings in shares of abrdn Asia-Pacific Income Fund by 7.7% during the fourth quarter. Kestra Advisory Services LLC now owns 16,801 shares of the investment management company’s stock valued at $258,000 after buying an additional 1,204 shares during the last quarter. Rockefeller Capital Management L.P. grew its holdings in shares of abrdn Asia-Pacific Income Fund by 3.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 41,385 shares of the investment management company’s stock valued at $635,000 after buying an additional 1,228 shares during the last quarter. Creative Planning increased its position in shares of abrdn Asia-Pacific Income Fund by 6.9% during the second quarter. Creative Planning now owns 21,167 shares of the investment management company’s stock valued at $337,000 after acquiring an additional 1,364 shares in the last quarter. Finally, Moors & Cabot Inc. increased its position in shares of abrdn Asia-Pacific Income Fund by 11.2% during the fourth quarter. Moors & Cabot Inc. now owns 17,015 shares of the investment management company’s stock valued at $261,000 after acquiring an additional 1,709 shares in the last quarter. 33.55% of the stock is currently owned by 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.