Abrdn Japan Equity Fund Inc (NYSE:JEQ) Shares Sold by Wolverine Asset Management LLC

Wolverine Asset Management LLC reduced its position in shares of Abrdn Japan Equity Fund Inc (NYSE:JEQ) by 38.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 93,110 shares of the company’s stock after selling 59,295 shares during the period. Wolverine Asset Management LLC owned 0.67% of Abrdn Japan Equity Fund worth $582,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Logan Stone Capital LLC purchased a new stake in shares of Abrdn Japan Equity Fund during the second quarter worth approximately $212,000. City of London Investment Management Co. Ltd. grew its holdings in shares of Abrdn Japan Equity Fund by 23.3% during the second quarter. City of London Investment Management Co. Ltd. now owns 145,213 shares of the company’s stock worth $852,000 after buying an additional 27,425 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Abrdn Japan Equity Fund in the second quarter valued at about $155,000. Shaker Financial Services LLC lifted its stake in shares of Abrdn Japan Equity Fund by 25.4% in the third quarter. Shaker Financial Services LLC now owns 85,799 shares of the company’s stock worth $536,000 after buying an additional 17,400 shares in the last quarter. Finally, Successful Portfolios LLC boosted its position in Abrdn Japan Equity Fund by 4.0% during the third quarter. Successful Portfolios LLC now owns 85,674 shares of the company’s stock worth $535,000 after acquiring an additional 3,271 shares during the last quarter. Institutional investors and hedge funds own 62.72% of the company’s stock.

Abrdn Japan Equity Fund Stock Down 1.4 %

Shares of NYSE JEQ opened at $5.80 on Thursday. Abrdn Japan Equity Fund Inc has a 12-month low of $5.27 and a 12-month high of $6.39. The company has a 50-day moving average of $6.03 and a 200 day moving average of $5.97.

Abrdn Japan Equity Fund Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Thursday, November 21st will be issued a $0.12 dividend. The ex-dividend date is Thursday, November 21st. This represents a $0.48 annualized dividend and a dividend yield of 8.28%.

About Abrdn Japan Equity Fund

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.