Abrdn Asia-Pacific Income Fund Inc (NYSEAMERICAN:FAX) to Issue Monthly Dividend of $0.03

Abrdn Asia-Pacific Income Fund Inc (NYSEAMERICAN:FAX) declared a monthly dividend on Thursday, November 9th, NASDAQ reports. Investors of record on Wednesday, November 22nd will be given a dividend of 0.0275 per share by the investment management company on Thursday, November 30th. This represents a $0.33 dividend on an annualized basis and a dividend yield of 12.31%. The ex-dividend date of this dividend is Tuesday, November 21st.

Abrdn Asia-Pacific Income Fund has decreased its dividend payment by an average of 2.2% per year over the last three years.

Abrdn Asia-Pacific Income Fund Price Performance

FAX stock opened at $2.68 on Monday. Abrdn Asia-Pacific Income Fund has a 1-year low of $2.33 and a 1-year high of $2.92.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in FAX. Evergreen Capital Management LLC boosted its stake in Abrdn Asia-Pacific Income Fund by 45.6% in the 4th quarter. Evergreen Capital Management LLC now owns 3,826,314 shares of the investment management company’s stock valued at $10,167,000 after purchasing an additional 1,197,922 shares during the period. Royal Bank of Canada raised its holdings in shares of Abrdn Asia-Pacific Income Fund by 1.7% during the 2nd quarter. Royal Bank of Canada now owns 3,817,181 shares of the investment management company’s stock worth $10,307,000 after buying an additional 64,106 shares in the last quarter. Penserra Capital Management LLC acquired a new position in Abrdn Asia-Pacific Income Fund in the 1st quarter worth about $9,956,000. Wells Fargo & Company MN increased its holdings in Abrdn Asia-Pacific Income Fund by 8.0% in the 2nd quarter. Wells Fargo & Company MN now owns 2,908,314 shares of the investment management company’s stock worth $7,852,000 after purchasing an additional 215,247 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in Abrdn Asia-Pacific Income Fund by 8.1% in the 1st quarter. Bank of America Corp DE now owns 1,381,602 shares of the investment management company’s stock worth $3,675,000 after purchasing an additional 103,911 shares in the last quarter. 22.56% of the stock is owned by institutional investors and hedge funds.

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.