Tortoise Investment Management Lowers stake in Aberdeen Asia-Pacific Income Fund (FAX)

Aberdeen Asia-Pacific Income Fund (FAX) : Tortoise Investment Management reduced its stake in Aberdeen Asia-Pacific Income Fund by 14.6% during the most recent quarter end. The investment management company now holds a total of 1,915,551 shares of Aberdeen Asia-Pacific Income Fund which is valued at $9,980,021 after selling 327,544 shares in Aberdeen Asia-Pacific Income Fund , the firm said in a disclosure report filed with the SEC on Aug 3, 2016.Aberdeen Asia-Pacific Income Fund makes up approximately 3.40% of Tortoise Investment Management’s portfolio.

Other Hedge Funds, Including , Mariner Investment Group reduced its stake in FAX by selling 32,000 shares or 33.27% in the most recent quarter. The Hedge Fund company now holds 64,175 shares of FAX which is valued at $334,352. Aberdeen Asia-Pacific Income Fund makes up approx 0.11% of Mariner Investment Group’s portfolio. Garrison Bradford Associates Inc added FAX to its portfolio by purchasing 11,500 company shares during the most recent quarter which is valued at $59,915. Aberdeen Asia-Pacific Income Fund makes up approx 0.06% of Garrison Bradford Associates Inc’s portfolio. Arlington Capital Management added FAX to its portfolio by purchasing 933,742 company shares during the most recent quarter which is valued at $4,864,796. Aberdeen Asia-Pacific Income Fund makes up approx 2.50% of Arlington Capital Management’s portfolio.Benedict Financial Advisors Inc boosted its stake in FAX in the latest quarter, The investment management firm added 176 additional shares and now holds a total of 10,539 shares of Aberdeen Asia-Pacific Income Fund which is valued at $55,014. Aberdeen Asia-Pacific Income Fund makes up approx 0.03% of Benedict Financial Advisors Inc’s portfolio.Evanson Asset Management reduced its stake in FAX by selling 19,378 shares or 1.59% in the most recent quarter. The Hedge Fund company now holds 1,197,317 shares of FAX which is valued at $6,261,968. Aberdeen Asia-Pacific Income Fund makes up approx 1.83% of Evanson Asset Management’s portfolio.

Aberdeen Asia-Pacific Income Fund opened for trading at $5.25 and hit $5.27 on the upside on Monday, eventually ending the session at $5.25, with a gain of 0.38% or 0.02 points. The heightened volatility saw the trading volume jump to 7,58,792 shares. Company has a market cap of $1,337 M.

Aberdeen Asia-Pacific Income Fund Inc. (the Fund) is a closed-end non-diversified management investment company. The Fund’s 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.

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