Abrdn Emerging Markets Equity Income Fund (NYSE:AEF) Shares Up 0.7% – Still a Buy?

Abrdn Emerging Markets Equity Income Fund Inc (NYSE:AEF)’s share price rose 0.7% during trading on Monday . The company traded as high as $5.84 and last traded at $5.84. Approximately 80,317 shares were traded during trading, an increase of 1% from the average daily volume of 79,690 shares. The stock had previously closed at $5.80.

Abrdn Emerging Markets Equity Income Fund Stock Performance

The stock’s 50 day moving average price is $5.37 and its 200 day moving average price is $5.26.

Abrdn Emerging Markets Equity Income Fund Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 23rd were given a dividend of $0.10 per share. The ex-dividend date was Monday, September 23rd. This represents a $0.40 annualized dividend and a yield of 7.07%.

Hedge Funds Weigh In On Abrdn Emerging Markets Equity Income Fund

Several hedge funds and other institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. bought a new stake in shares of Abrdn Emerging Markets Equity Income Fund in the 4th quarter valued at about $25,000. Blue Bell Private Wealth Management LLC raised its stake in Abrdn Emerging Markets Equity Income Fund by 42.4% in the second quarter. Blue Bell Private Wealth Management LLC now owns 49,646 shares of the company’s stock valued at $262,000 after buying an additional 14,780 shares during the period. Sanctuary Advisors LLC acquired a new stake in shares of Abrdn Emerging Markets Equity Income Fund in the second quarter valued at approximately $586,000. Uncommon Cents Investing LLC boosted its stake in shares of Abrdn Emerging Markets Equity Income Fund by 3.5% during the 1st quarter. Uncommon Cents Investing LLC now owns 269,411 shares of the company’s stock worth $1,361,000 after acquiring an additional 9,082 shares during the period. Finally, Karpus Management Inc. increased its holdings in shares of Abrdn Emerging Markets Equity Income Fund by 2.1% during the 1st quarter. Karpus Management Inc. now owns 338,715 shares of the company’s stock worth $1,711,000 after acquiring an additional 7,015 shares during the last quarter. 73.93% of the stock is owned by institutional investors.

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.