Key Points
- Director Anthony Clark purchased 4,500 AEF shares at an average price of $9.63, investing $43,335 and increasing his holdings by 300% to 6,000 shares.
- AEF shares opened at $9.74, up 1.6%, and remain near their 52-week high of $10.14; institutional investors own approximately 73.93% of the fund.
- The fund raised its quarterly dividend to $0.26 per share, equivalent to $1.04 annually and a 10.7% yield.
Abrdn Emerging Markets Equity Income Fund Inc (NYSE:AEF - Get Free Report) Director Anthony Clark bought 4,500 shares of the firm's stock in a transaction on Thursday, September 24th. The stock was acquired at an average cost of $9.63 per share, with a total value of $43,335.00. Following the transaction, the director owned 6,000 shares in the company, valued at $57,780. The trade was a 300.00% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Abrdn Emerging Markets Equity Income Fund Stock Up 1.6%
Shares of NYSE AEF opened at $9.74 on Friday. The firm's 50-day moving average price is $9.33 and its 200-day moving average price is $9.01. Abrdn Emerging Markets Equity Income Fund Inc has a 52-week low of $6.26 and a 52-week high of $10.14.
Abrdn Emerging Markets Equity Income Fund Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 22nd will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Tuesday, September 22nd. This is a positive change from Abrdn Emerging Markets Equity Income Fund's previous quarterly dividend of $0.23. This represents a $1.04 annualized dividend and a dividend yield of 10.7%.
Institutional Investors Weigh In On Abrdn Emerging Markets Equity Income Fund
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Closed End Fund Advisors Inc. bought a new stake in Abrdn Emerging Markets Equity Income Fund in the 4th quarter worth approximately $541,000. Noble Wealth Management PBC purchased a new stake in Abrdn Emerging Markets Equity Income Fund during the 2nd quarter valued at $34,000. Readystate Asset Management LP bought a new position in shares of Abrdn Emerging Markets Equity Income Fund during the 1st quarter valued at $203,000. Private Advisor Group LLC lifted its holdings in shares of Abrdn Emerging Markets Equity Income Fund by 7.4% during the 1st quarter. Private Advisor Group LLC now owns 191,749 shares of the company's stock valued at $1,398,000 after buying an additional 13,205 shares during the period. Finally, Evolve Private Wealth LLC boosted its stake in shares of Abrdn Emerging Markets Equity Income Fund by 3.2% in the 1st quarter. Evolve Private Wealth LLC now owns 112,511 shares of the company's stock worth $820,000 after buying an additional 3,468 shares during the last quarter. Hedge funds and other 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, Inc (NYSE: AEF) is a closed-end investment company that seeks to provide investors with current income and long-term growth of capital. The fund invests primarily in dividend-paying equity securities issued by companies in emerging-market countries.
Its portfolio may include common stocks and other equity-related securities, including depositary receipts, across a range of industries and emerging-market economies. The fund's geographic exposure can include markets in Asia, Latin America, Europe, the Middle East and Africa, with allocations determined by the investment manager's assessment of income potential, valuation and long-term growth prospects.
The fund was formerly known as Aberdeen Emerging Markets Equity Income Fund, Inc and adopted its current abrdn name as part of the broader rebranding of Aberdeen Asset Management's investment business.
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