abrdn Asian Income Fund (LON:AAIF) Hits New 52-Week High – Still a Buy?

abrdn Asian Income Fund (LON:AAIF) shares hit a new 52-week high during trading on Wednesday . The company traded as high as GBX 225 ($2.75) and last traded at GBX 222 ($2.72), with a volume of 166412 shares trading hands. The stock had previously closed at GBX 220 ($2.69).

abrdn Asian Income Fund Trading Down 0.4 %

The company’s 50 day moving average is GBX 220.45 and its two-hundred day moving average is GBX 217.05. The company has a debt-to-equity ratio of 8.19, a current ratio of 0.26 and a quick ratio of 0.11. The firm has a market cap of £352.61 million, a P/E ratio of 807.14 and a beta of 0.70.

abrdn Asian Income Fund Increases Dividend

The firm also recently declared a dividend, which will be paid on Friday, February 21st. Shareholders of record on Thursday, January 23rd will be paid a dividend of GBX 6.78 ($0.08) per share. The ex-dividend date is Thursday, January 23rd. This represents a yield of 2.99%. This is an increase from abrdn Asian Income Fund’s previous dividend of $2.55. abrdn Asian Income Fund’s payout ratio is currently 4,285.71%.

Insider Activity

In related news, insider Ian Cadby acquired 8,000 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was bought at an average cost of GBX 223 ($2.73) per share, with a total value of £17,840 ($21,827.97). Corporate insiders own 3.64% of the company’s stock.

About abrdn Asian Income Fund

Targeting the income and growth potential of Asia’s most compelling and sustainable companies.