Aberdeen Asia-Pacific Income Fund Inc (FAX) has been under a strong bear grip, hence the stock is down -1.39% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 0.42% in the past 1 week. The stock has risen by 0.59% in the past week indicating that the buyers are active at lower levels, but the stock is down -1.92% in the past 4 weeks.
The stock has recorded a 20-day Moving Average of 0.48% and the 50-Day Moving Average is 0.74%.The 200 Day SMA reached 7.69%
Aberdeen Asia-Pacific Income Fund Inc (NYSEMKT:FAX): The stock opened in the green at $5.13 on Friday, but the bulls found it difficult to push the prices higher. The stock reached a high of $5.16 and a low of $5.11 for the day. The stock did not find buyers even at the lows and closed at $5.12 recording a loss of -0.39%. 740,044 shares exchanged hands during the trading day. The stock had closed at $5.12 in the previous days trading.
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.