1607 Capital Partners LLC Sells 165,803 Shares of Abrdn Emerging Markets Equity Income Fund Inc (NYSE:AEF)

1607 Capital Partners LLC decreased its holdings in shares of Abrdn Emerging Markets Equity Income Fund Inc (NYSE:AEF - Free Report) by 4.8% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 3,295,495 shares of the company's stock after selling 165,803 shares during the period. Abrdn Emerging Markets Equity Income Fund makes up approximately 1.4% of 1607 Capital Partners LLC's investment portfolio, making the stock its 20th largest holding. 1607 Capital Partners LLC owned 6.49% of Abrdn Emerging Markets Equity Income Fund worth $17,104,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Raymond James Financial Inc. acquired a new position in Abrdn Emerging Markets Equity Income Fund during the 4th quarter worth about $4,329,000. Wolverine Asset Management LLC grew its holdings in shares of 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 purchasing an additional 20,254 shares during the period. Private Advisor Group LLC boosted its position in Abrdn Emerging Markets Equity Income Fund by 20.7% in the 4th quarter. Private Advisor Group LLC now owns 110,256 shares of the company's stock valued at $572,000 after buying an additional 18,935 shares during the last quarter. HighTower Advisors LLC bought a new stake in shares of Abrdn Emerging Markets Equity Income Fund in the 4th quarter valued at approximately $199,000. Finally, National Bank of Canada FI increased its position in Abrdn Emerging Markets Equity Income Fund by 1,402.3% in the 4th quarter. National Bank of Canada FI now owns 15,023 shares of the company's stock valued at $78,000 after acquiring an additional 14,023 shares during the period. Institutional investors and hedge funds own 73.93% of the company's stock.

Abrdn Emerging Markets Equity Income Fund Price Performance

Shares of AEF remained flat at $4.84 during trading hours on Monday. The stock had a trading volume of 59,707 shares, compared to its average volume of 132,694. The firm has a fifty day moving average of $5.08 and a 200 day moving average of $5.27. Abrdn Emerging Markets Equity Income Fund Inc has a one year low of $4.43 and a one year high of $5.84.

Abrdn Emerging Markets Equity Income Fund Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 25th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 12.40%. This is a boost from Abrdn Emerging Markets Equity Income Fund's previous quarterly dividend of $0.10. The ex-dividend date was Tuesday, March 25th.

About Abrdn Emerging Markets Equity Income Fund

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.