Aberdeen Asia-Pacific Income Fund Inc (FAX) : Traders are bullish on Aberdeen Asia-Pacific Income Fund Inc (FAX) as it has outperformed the S&P 500 by a wide margin of 1.08% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 1.09%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.15% in the last 1 week, and is up 2.12% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 1.38% and the 50-Day Moving Average is 3.9%. Aberdeen Asia-Pacific Income Fund Inc (NYSEMKT:FAX): stock turned positive on Friday. Though the stock opened at $5.29, the bulls momentum made the stock top out at $5.32 level for the day. The stock recorded a low of $5.28 and closed the trading day at $5.29, in the green by 0.28%. The total traded volume for the day was 589,817. The stock had closed at $5.275 in the previous days trading.
The company Insiders own 1% of Aberdeen Asia-Pacific Income Fund Inc shares according to the proxy statements. Institutional Investors own 28.89% of Aberdeen Asia-Pacific Income Fund Inc shares.
Aberdeen Asia-Pacific Income Fund, Inc. (the Fund) is a closed-end, non-diversified management investment company. The Funds investment objective is to seek current income. It may also achieve incidental capital appreciation. The Fund normally invests at least 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. Asian Countries include Bangladesh, China, Hong Kong, India, Indonesia, Japan, Malaysia, Pakistan, the Philippines, Singapore, South Korea, Taiwan, Thailand, Vietnam, Sri Lanka, Kazakhstan and Mongolia, and such other countries on the Asian continent approved for investment by the investment manager of the Fund. Aberdeen Asset Management Asia Limited serves as investment manager to the Fund.