Peapack Gladstone Financial Corp Cuts Stake in Abrdn Japan Equity Fund Inc (NYSE:JEQ)

Peapack Gladstone Financial Corp cut its holdings in Abrdn Japan Equity Fund Inc (NYSE:JEQ) by 19.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,870 shares of the company’s stock after selling 3,045 shares during the quarter. Peapack Gladstone Financial Corp owned approximately 0.09% of Abrdn Japan Equity Fund worth $80,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kovitz Investment Group Partners LLC purchased a new stake in shares of Abrdn Japan Equity Fund in the 3rd quarter worth approximately $65,000. Sanctuary Advisors LLC purchased a new stake in Abrdn Japan Equity Fund during the second quarter worth $155,000. Logan Stone Capital LLC bought a new stake in Abrdn Japan Equity Fund during the 2nd quarter valued at $212,000. Shaker Financial Services LLC increased its holdings in shares of Abrdn Japan Equity Fund by 12.5% in the 2nd quarter. Shaker Financial Services LLC now owns 68,399 shares of the company’s stock valued at $402,000 after acquiring an additional 7,586 shares during the period. Finally, Successful Portfolios LLC raised its position in shares of Abrdn Japan Equity Fund by 4.0% in the 3rd quarter. Successful Portfolios LLC now owns 85,674 shares of the company’s stock worth $535,000 after acquiring an additional 3,271 shares in the last quarter. 62.72% of the stock is currently owned by institutional investors.

Abrdn Japan Equity Fund Stock Down 0.7 %

Shares of JEQ stock opened at $5.81 on Tuesday. The stock’s 50-day moving average is $5.90 and its 200 day moving average is $5.95. Abrdn Japan Equity Fund Inc has a 1-year low of $5.27 and a 1-year high of $6.39.

Abrdn Japan Equity Fund Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Thursday, November 21st will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 8.26%. The ex-dividend date of this dividend is Thursday, November 21st.

Abrdn Japan Equity Fund Profile

Abrdn Japan Equity Fund Inc is a close ended equity mutual fund launched and managed by Aberdeen Standard Investments (Asia) Limited. It invests in the public equity markets of Japan. The fund invests in stocks of companies operating across diversified sectors. It employs quantitative analysis to build its portfolio.