Short Interest in Aberdeen Asia-Pacific Income Fund, Inc. (FAX) Drops By 91.0%

Aberdeen Asia-Pacific Income Fund, Inc. (NYSEAMERICAN:FAX) saw a significant drop in short interest during the month of December. As of December 15th, there was short interest totalling 25,138 shares, a drop of 91.0% from the November 30th total of 277,843 shares. Based on an average daily volume of 943,389 shares, the days-to-cover ratio is presently 0.0 days.

Hedge funds have recently modified their holdings of the business. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Aberdeen Asia-Pacific Income Fund by 52.3% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 74,461 shares of the investment management company’s stock worth $372,000 after purchasing an additional 25,564 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Aberdeen Asia-Pacific Income Fund by 96.4% during the second quarter. Bank of New York Mellon Corp now owns 91,825 shares of the investment management company’s stock worth $459,000 after purchasing an additional 45,065 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of Aberdeen Asia-Pacific Income Fund by 7.3% during the second quarter. Royal Bank of Canada now owns 1,946,200 shares of the investment management company’s stock worth $9,731,000 after purchasing an additional 131,952 shares during the last quarter. Advisory Services Network LLC grew its holdings in shares of Aberdeen Asia-Pacific Income Fund by 8.3% during the second quarter. Advisory Services Network LLC now owns 281,149 shares of the investment management company’s stock worth $1,406,000 after purchasing an additional 21,536 shares during the last quarter. Finally, Sunbelt Securities Inc. purchased a new position in shares of Aberdeen Asia-Pacific Income Fund during the third quarter worth about $371,000.

Aberdeen Asia-Pacific Income Fund (FAX) opened at $4.88 on Friday. The stock has a market capitalization of $1,230.00, a PE ratio of 25.68 and a beta of 0.51. Aberdeen Asia-Pacific Income Fund has a twelve month low of $4.56 and a twelve month high of $5.29.

The company also recently disclosed a monthly dividend, which will be paid on Monday, January 8th. Shareholders of record on Friday, December 29th will be issued a dividend of $0.035 per share. This represents a $0.42 annualized dividend and a dividend yield of 8.61%. The ex-dividend date of this dividend is Thursday, December 28th. Aberdeen Asia-Pacific Income Fund’s payout ratio is 221.05%.

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Aberdeen Asia-Pacific Income Fund Company Profile

Aberdeen Asia-Pacific Income Fund, Inc is a non-diversified, closed-end management investment company. The Fund’s principal investment objective is to seek current income. The Fund may also achieve incidental capital appreciation. To achieve its investment objectives, the Fund invests approximately 80% of its net assets, plus the amount of any borrowings for investment purposes, in Asian debt securities, Australian debt securities and New Zealand debt securities.

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