Aberdeen Asia-Pacific Income Fund, Inc. (NYSEAMERICAN:FAX) was the recipient of a significant drop in short interest in October. As of October 31st, there was short interest totalling 112,575 shares, a drop of 44.0% from the October 15th total of 200,861 shares. Based on an average trading volume of 551,417 shares, the days-to-cover ratio is currently 0.2 days.
Shares of FAX stock opened at $4.03 on Friday. Aberdeen Asia-Pacific Income Fund has a 12 month low of $3.91 and a 12 month high of $5.03.
The business also recently declared a monthly dividend, which was paid on Monday, October 29th. Shareholders of record on Friday, October 19th were issued a dividend of $0.035 per share. The ex-dividend date of this dividend was Thursday, October 18th. This represents a $0.42 annualized dividend and a yield of 10.42%.
In related news, Director Peter D. Sacks sold 6,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 24th. The shares were sold at an average price of $3.96, for a total transaction of $25,740.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
A number of hedge funds have recently made changes to their positions in FAX. Trust Department MB Financial Bank N A acquired a new position in Aberdeen Asia-Pacific Income Fund during the second quarter valued at approximately $125,000. Financial & Investment Management Group Ltd. acquired a new position in Aberdeen Asia-Pacific Income Fund during the second quarter valued at approximately $689,000. Wells Fargo & Company MN grew its holdings in Aberdeen Asia-Pacific Income Fund by 5.3% during the second quarter. Wells Fargo & Company MN now owns 4,685,171 shares of the investment management company’s stock valued at $20,241,000 after purchasing an additional 236,580 shares during the last quarter. Shaker Financial Services LLC grew its holdings in Aberdeen Asia-Pacific Income Fund by 116.2% during the second quarter. Shaker Financial Services LLC now owns 605,933 shares of the investment management company’s stock valued at $2,618,000 after purchasing an additional 325,638 shares during the last quarter. Finally, Oxbow Advisors LLC acquired a new position in Aberdeen Asia-Pacific Income Fund during the second quarter valued at approximately $20,580,000.
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Aberdeen Asia-Pacific Income Fund Company Profile
Aberdeen Asia-Pacific Income Fund, Inc is a close ended fixed income mutual fund launched and managed by Aberdeen Asset Management Asia Limited. It is co-managed by Aberdeen Asset Management Limited and Aberdeen Asset Managers Limited. The fund invests in fixed income markets of Asia, Australia, and New Zeland.
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