Abrdn Emerging Markets Equity Income Fund (NYSE:AEF) Trading 0.4% Higher – Here’s What Happened

Abrdn Emerging Markets Equity Income Fund Inc (NYSE:AEF)’s stock price rose 0.4% on Tuesday . The company traded as high as $5.28 and last traded at $5.28. Approximately 249,815 shares were traded during trading, an increase of 114% from the average daily volume of 116,479 shares. The stock had previously closed at $5.26.

Abrdn Emerging Markets Equity Income Fund Price Performance

The stock’s 50-day moving average price is $5.32 and its 200-day moving average price is $5.36.

Abrdn Emerging Markets Equity Income Fund Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Monday, December 30th will be issued a $0.10 dividend. The ex-dividend date is Monday, December 30th. This represents a $0.40 dividend on an annualized basis and a yield of 7.58%.

Hedge Funds Weigh In On Abrdn Emerging Markets Equity Income Fund

Several institutional investors have recently modified their holdings of AEF. Private Advisor Group LLC grew its holdings in Abrdn Emerging Markets Equity Income Fund by 3.0% in the 3rd quarter. Private Advisor Group LLC now owns 91,321 shares of the company’s stock worth $515,000 after buying an additional 2,618 shares in the last quarter. Sanctuary Advisors LLC bought a new position in shares of Abrdn Emerging Markets Equity Income Fund in the second quarter worth $586,000. Wolverine Asset Management LLC increased its holdings 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 purchasing an additional 119,630 shares during the period. Kovitz Investment Group Partners LLC bought a new stake in shares of Abrdn Emerging Markets Equity Income Fund during the third quarter valued at about $2,631,000. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Abrdn Emerging Markets Equity Income Fund during the third quarter valued at about $3,574,000. Institutional investors own 73.93% of the company’s stock.

About Abrdn Emerging Markets Equity Income Fund

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.