Key Points
- Director Anthony Clark purchased 1,500 AEF shares on Dec. 30 at an average price of $7.20 for a total of $10,800, a transaction disclosed in an SEC filing and leaving him with 1,500 shares.
- The fund raised its quarterly dividend to $0.18 (from $0.17), equal to a $0.72 annualized payout and a 10.1% yield; the ex-dividend date was Dec. 31 and the payment is scheduled for Jan. 12.
- Institutional ownership is high at about 73.9%, with Vanguard Capital Wealth Advisors boosting its AEF stake by 241.3% to 993,754 shares, indicating significant institutional buying.
Abrdn Emerging Markets Equity Income Fund Inc (NYSE:AEF - Get Free Report) Director Anthony Clark acquired 1,500 shares of Abrdn Emerging Markets Equity Income Fund stock in a transaction on Tuesday, December 30th. The shares were bought at an average cost of $7.20 per share, with a total value of $10,800.00. Following the completion of the transaction, the director owned 1,500 shares of the company's stock, valued at approximately $10,800. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Abrdn Emerging Markets Equity Income Fund Price Performance
Shares of AEF opened at $7.13 on Friday. The company's 50-day moving average is $6.85 and its 200-day moving average is $6.42. Abrdn Emerging Markets Equity Income Fund Inc has a fifty-two week low of $4.43 and a fifty-two week high of $7.29.
Abrdn Emerging Markets Equity Income Fund Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 12th. Shareholders of record on Wednesday, December 31st will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 10.1%. This is a boost from Abrdn Emerging Markets Equity Income Fund's previous quarterly dividend of $0.17. The ex-dividend date is Wednesday, December 31st.
Hedge Funds Weigh In On Abrdn Emerging Markets Equity Income Fund
A number of large investors have recently made changes to their positions in AEF. Vanguard Capital Wealth Advisors lifted its holdings in Abrdn Emerging Markets Equity Income Fund by 241.3% during the 2nd quarter. Vanguard Capital Wealth Advisors now owns 993,754 shares of the company's stock worth $5,903,000 after purchasing an additional 702,576 shares during the last quarter. Penserra Capital Management LLC bought a new position in Abrdn Emerging Markets Equity Income Fund during the 3rd quarter worth $4,334,000. Absolute Investment Advisers LLC lifted its holdings in shares of Abrdn Emerging Markets Equity Income Fund by 20.7% during the second quarter. Absolute Investment Advisers LLC now owns 591,571 shares of the company's stock worth $3,514,000 after buying an additional 101,299 shares in the last quarter. Uncommon Cents Investing LLC boosted its position in shares of Abrdn Emerging Markets Equity Income Fund by 1.6% in the second quarter. Uncommon Cents Investing LLC now owns 323,426 shares of the company's stock valued at $1,921,000 after acquiring an additional 5,045 shares during the period. Finally, Private Advisor Group LLC grew its stake in shares of Abrdn Emerging Markets Equity Income Fund by 7.1% in the third quarter. Private Advisor Group LLC now owns 172,544 shares of the company's stock valued at $1,118,000 after acquiring an additional 11,500 shares in the last quarter. Institutional investors own 73.93% of the company's stock.
Abrdn Emerging Markets Equity Income Fund Company Profile
(
Get Free Report)
Abrdn Emerging Markets Equity Income Fund (NYSE:AEF) is a closed‐end investment company that seeks to provide investors with a combination of current income and long-term capital appreciation by investing primarily in dividend-paying equities of companies located in emerging market countries. The fund offers investors access to a diversified portfolio of stocks across Asia, Latin America, Eastern Europe, the Middle East and Africa, targeting firms with strong cash flow characteristics and sustainable payout policies.
The investment process combines bottom-up fundamental research with a disciplined focus on income generation.
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