PNC Financial Services Group Inc. Acquires 4,555 Shares of Abrdn Emerging Markets Equity Income Fund Inc (NYSE:AEF)

PNC Financial Services Group Inc. lifted its holdings in shares of Abrdn Emerging Markets Equity Income Fund Inc (NYSE:AEF) by 94.3% during the fourth quarter, HoldingsChannel reports. The firm owned 9,385 shares of the company’s stock after acquiring an additional 4,555 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Abrdn Emerging Markets Equity Income Fund were worth $49,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Raymond James Financial Inc. bought a new stake in Abrdn Emerging Markets Equity Income Fund during the 4th quarter worth approximately $4,329,000. Public Employees Retirement System of Ohio acquired a new position in shares of Abrdn Emerging Markets Equity Income Fund in the third quarter valued at approximately $3,574,000. Kovitz Investment Group Partners LLC acquired a new position in shares of Abrdn Emerging Markets Equity Income Fund in the third quarter valued at approximately $2,631,000. Wolverine Asset Management LLC increased its position in shares of Abrdn Emerging Markets Equity Income Fund by 13.3% during the fourth quarter. Wolverine Asset Management LLC now owns 172,882 shares of the company’s stock worth $897,000 after acquiring an additional 20,254 shares in the last quarter. Finally, Private Advisor Group LLC raised its holdings in shares of Abrdn Emerging Markets Equity Income Fund by 20.7% during the fourth quarter. Private Advisor Group LLC now owns 110,256 shares of the company’s stock worth $572,000 after acquiring an additional 18,935 shares during the period. Institutional investors own 73.93% of the company’s stock.

Abrdn Emerging Markets Equity Income Fund Price Performance

Shares of NYSE AEF opened at $5.09 on Thursday. The company has a fifty day moving average price of $5.29 and a 200 day moving average price of $5.36. Abrdn Emerging Markets Equity Income Fund Inc has a 1-year low of $4.83 and a 1-year high of $5.84.

Abrdn Emerging Markets Equity Income Fund Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 25th will be given a dividend of $0.15 per share. This is a boost from Abrdn Emerging Markets Equity Income Fund’s previous quarterly dividend of $0.10. This represents a $0.60 annualized dividend and a dividend yield of 11.79%. The ex-dividend date of this dividend is Tuesday, March 25th.

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.