Raymond James Financial Inc. Takes $4.33 Million Position in Abrdn Emerging Markets Equity Income Fund Inc (NYSE:AEF)

Raymond James Financial Inc. purchased a new position in shares of Abrdn Emerging Markets Equity Income Fund Inc (NYSE:AEF) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 834,145 shares of the company’s stock, valued at approximately $4,329,000.

Several other hedge funds have also modified their holdings of the stock. Public Employees Retirement System of Ohio bought a new stake in shares of Abrdn Emerging Markets Equity Income Fund during the third quarter worth approximately $3,574,000. Kovitz Investment Group Partners LLC bought a new position in shares of Abrdn Emerging Markets Equity Income Fund during the 3rd quarter valued at about $2,631,000. Wolverine Asset Management LLC raised its holdings in Abrdn Emerging Markets Equity Income Fund by 13.3% during the 4th quarter. Wolverine Asset Management LLC now owns 172,882 shares of the company’s stock worth $897,000 after buying an additional 20,254 shares during the period. Finally, Private Advisor Group LLC lifted its holdings in shares of Abrdn Emerging Markets Equity Income Fund by 20.7% in the fourth quarter. Private Advisor Group LLC now owns 110,256 shares of the company’s stock valued at $572,000 after purchasing an additional 18,935 shares in the last quarter. 73.93% of the stock is owned by institutional investors.

Abrdn Emerging Markets Equity Income Fund Stock Performance

NYSE:AEF opened at $5.09 on Thursday. The stock has a 50-day simple moving average of $5.29 and a 200 day simple moving average of $5.36. Abrdn Emerging Markets Equity Income Fund Inc has a 52-week low of $4.83 and a 52-week high of $5.84.

Abrdn Emerging Markets Equity Income Fund Increases Dividend

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

Abrdn Emerging Markets Equity Income Fund 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.