Pekin Hardy Strauss Inc. Decreases Stock Holdings in Abrdn Asia-Pacific Income Fund Inc (NYSEAMERICAN:FAX)

Pekin Hardy Strauss Inc. cut its holdings in Abrdn Asia-Pacific Income Fund Inc (NYSEAMERICAN:FAX) by 84.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 36,115 shares of the investment management company’s stock after selling 199,456 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in Abrdn Asia-Pacific Income Fund were worth $628,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of FAX. Centaurus Financial Inc. bought a new stake in shares of Abrdn Asia-Pacific Income Fund in the 3rd quarter valued at approximately $101,000. Garner Asset Management Corp increased its position in Abrdn Asia-Pacific Income Fund by 26.1% during the first quarter. Garner Asset Management Corp now owns 43,075 shares of the investment management company’s stock valued at $121,000 after acquiring an additional 8,925 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Abrdn Asia-Pacific Income Fund by 34.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 38,592 shares of the investment management company’s stock valued at $103,000 after acquiring an additional 9,885 shares during the period. International Assets Investment Management LLC raised its stake in shares of Abrdn Asia-Pacific Income Fund by 5.2% in the second quarter. International Assets Investment Management LLC now owns 234,133 shares of the investment management company’s stock valued at $627,000 after acquiring an additional 11,492 shares during the period. Finally, Easterly Investment Partners LLC lifted its holdings in shares of Abrdn Asia-Pacific Income Fund by 14.8% in the 2nd quarter. Easterly Investment Partners LLC now owns 89,800 shares of the investment management company’s stock worth $241,000 after acquiring an additional 11,600 shares during the last quarter. Hedge funds and other institutional investors own 33.55% of the company’s stock.

Abrdn Asia-Pacific Income Fund Stock Performance

Shares of NYSEAMERICAN FAX opened at $15.77 on Monday. Abrdn Asia-Pacific Income Fund Inc has a fifty-two week low of $14.88 and a fifty-two week high of $17.55.

Abrdn Asia-Pacific Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, November 29th. Shareholders of record on Thursday, November 21st will be paid a $0.165 dividend. The ex-dividend date is Thursday, November 21st. This represents a $1.98 dividend on an annualized basis and a yield of 12.56%.

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.