Abrdn Emerging Markets Equity Income Fund (NYSE:AEF) Trading Up 0.2% – Here’s Why

Abrdn Emerging Markets Equity Income Fund Inc (NYSE:AEF)’s share price shot up 0.2% on Wednesday . The company traded as high as $5.41 and last traded at $5.37. 278,774 shares were traded during trading, an increase of 45% from the average session volume of 192,732 shares. The stock had previously closed at $5.36.

Abrdn Emerging Markets Equity Income Fund Stock Performance

The company’s 50 day moving average price is $5.29 and its 200-day moving average price is $5.35.

Abrdn Emerging Markets Equity Income Fund Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Monday, December 30th were paid a $0.10 dividend. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.40 annualized dividend and a dividend yield of 7.45%.

Hedge Funds Weigh In On Abrdn Emerging Markets Equity Income Fund

Large investors have recently modified their holdings of the business. Sanctuary Advisors LLC purchased a new position in shares of Abrdn Emerging Markets Equity Income Fund in the second quarter valued at $586,000. Raymond James & Associates grew its holdings in Abrdn Emerging Markets Equity Income Fund by 11.8% during the 3rd quarter. Raymond James & Associates now owns 837,068 shares of the company’s stock valued at $4,717,000 after buying an additional 88,379 shares in the last quarter. Private Advisor Group LLC grew its holdings in Abrdn Emerging Markets Equity Income Fund by 3.0% during the 3rd quarter. Private Advisor Group LLC now owns 91,321 shares of the company’s stock valued at $515,000 after buying an additional 2,618 shares in the last quarter. Wolverine Asset Management LLC increased its position in shares of Abrdn Emerging Markets Equity Income Fund by 362.5% during the third quarter. Wolverine Asset Management LLC now owns 152,628 shares of the company’s stock valued at $860,000 after buying an additional 119,630 shares during the period. Finally, Kovitz Investment Group Partners LLC purchased a new stake in shares of Abrdn Emerging Markets Equity Income Fund in the third quarter worth about $2,631,000. Hedge funds and other institutional investors own 73.93% of the company’s stock.

Abrdn Emerging Markets Equity Income Fund Company Profile

Abrdn Emerging Markets Equity Income Fund Inc is a closed ended balanced mutual fund and managed by Aberdeen Asset Managers Limited. It invests in the public equity and fixed income markets of Chile. The fund seeks to invest in securities of companies operating across diversified sectors. It employs fundamental analysis with a bottom-up security selection approach to create its portfolio.