Key Points
- Director Anthony Clark purchased 2,000 AEF shares at an average price of $9.73, investing $19,460 and increasing his holdings by 33.33% to 8,000 shares.
- AEF shares opened at $9.65, with the fund trading between a 52-week low of $6.26 and high of $10.14.
- The fund increased its quarterly dividend to $0.26 per share, representing a $1.04 annualized payout and an approximately 10.8% dividend yield; institutional investors own 73.93% of the stock.
Abrdn Emerging Markets Equity Income Fund Inc (NYSE:AEF - Get Free Report) Director Anthony Clark purchased 2,000 shares of the firm's stock in a transaction that occurred on Monday, October 5th. The shares were acquired at an average price of $9.73 per share, for a total transaction of $19,460.00. Following the completion of the transaction, the director owned 8,000 shares in the company, valued at $77,840. The trade was a 33.33% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink.
Abrdn Emerging Markets Equity Income Fund Stock Down 0.9%
AEF stock opened at $9.65 on Wednesday. The business has a fifty day moving average price of $9.45 and a 200 day moving average price of $9.12. Abrdn Emerging Markets Equity Income Fund Inc has a fifty-two week low of $6.26 and a fifty-two week high of $10.14.
Abrdn Emerging Markets Equity Income Fund Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 22nd were issued a dividend of $0.26 per share. The ex-dividend date was Tuesday, September 22nd. This is a boost 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 10.8%.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in the business. Noble Wealth Management PBC bought a new stake in Abrdn Emerging Markets Equity Income Fund during the 2nd quarter worth about $34,000. Readystate Asset Management LP bought a new position in shares of Abrdn Emerging Markets Equity Income Fund in the first quarter worth about $203,000. Private Advisor Group LLC lifted its position in shares of Abrdn Emerging Markets Equity Income Fund by 7.4% during the first quarter. Private Advisor Group LLC now owns 191,749 shares of the company's stock worth $1,398,000 after purchasing an additional 13,205 shares in the last quarter. Evolve Private Wealth LLC lifted its position in shares of Abrdn Emerging Markets Equity Income Fund by 3.2% during the first quarter. Evolve Private Wealth LLC now owns 112,511 shares of the company's stock worth $820,000 after purchasing an additional 3,468 shares in the last quarter. Finally, Uhlmann Price Securities LLC grew its stake in shares of Abrdn Emerging Markets Equity Income Fund by 5.5% during the first quarter. Uhlmann Price Securities LLC now owns 40,859 shares of the company's stock valued at $298,000 after purchasing an additional 2,129 shares during the last quarter. 73.93% of the stock is owned by institutional investors.
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 a high level of current income and long-term capital appreciation. The fund invests primarily in equity securities of companies located in, or deriving a significant portion of their business from, emerging-market countries.
The portfolio generally emphasizes dividend-paying stocks across a range of industries and emerging-market economies. Its investments may include common stocks and other equity-related securities, providing exposure to companies in regions such as Asia, Latin America, Eastern Europe, the Middle East and Africa, although the fund's geographic allocation may change over time.
The fund is managed by abrdn, a global investment management firm.
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