Abrdn Asia-Pacific Income Fund Inc (NYSEAMERICAN:FAX) Sees Significant Growth in Short Interest

Abrdn Asia-Pacific Income Fund Inc (NYSEAMERICAN:FAX) was the recipient of a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 184,100 shares, an increase of 55.1% from the February 29th total of 118,700 shares. Based on an average daily volume of 813,900 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. IHT Wealth Management LLC acquired a new position in Abrdn Asia-Pacific Income Fund during the third quarter worth $27,000. Sar Wealth Management Group LLC acquired a new stake in shares of Abrdn Asia-Pacific Income Fund in the fourth quarter valued at $31,000. Cetera Advisors LLC acquired a new stake in shares of Abrdn Asia-Pacific Income Fund in the second quarter valued at $32,000. Saba Capital Management L.P. acquired a new stake in shares of Abrdn Asia-Pacific Income Fund in the first quarter valued at $34,000. Finally, Burford Brothers Inc. acquired a new stake in shares of Abrdn Asia-Pacific Income Fund in the fourth quarter valued at $37,000. 33.55% of the stock is currently owned by institutional investors and hedge funds.

Abrdn Asia-Pacific Income Fund Stock Up 1.1 %

FAX stock traded up $0.03 during midday trading on Friday, hitting $2.80. The stock had a trading volume of 1,085,472 shares, compared to its average volume of 564,820. Abrdn Asia-Pacific Income Fund has a 52 week low of $2.33 and a 52 week high of $2.84.

Abrdn Asia-Pacific Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 21st were paid a dividend of $0.0275 per share. The ex-dividend date was Wednesday, March 20th. This represents a $0.33 annualized dividend and a yield of 11.79%.

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.