Abrdn Japan Equity Fund Inc (NYSE:JEQ - Get Free Report) saw a significant growth in short interest in the month of February. As of February 28th, there was short interest totalling 45,300 shares, a growth of 27.2% from the February 13th total of 35,600 shares. Based on an average daily trading volume, of 45,000 shares, the days-to-cover ratio is currently 1.0 days. Currently, 0.7% of the company's shares are short sold.
Abrdn Japan Equity Fund Price Performance
JEQ stock traded down $0.01 during trading on Friday, reaching $6.74. The company had a trading volume of 78,802 shares, compared to its average volume of 51,114. Abrdn Japan Equity Fund has a 52 week low of $5.27 and a 52 week high of $6.77. The business has a 50 day moving average of $5.93 and a 200 day moving average of $5.93.
Abrdn Japan Equity Fund Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 21st will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 6.53%. The ex-dividend date of this dividend is Friday, February 21st.
Institutional Investors Weigh In On Abrdn Japan Equity Fund
Several hedge funds have recently made changes to their positions in the company. Saba Capital Management L.P. boosted its holdings in shares of Abrdn Japan Equity Fund by 0.9% during the 4th quarter. Saba Capital Management L.P. now owns 687,081 shares of the company's stock valued at $3,951,000 after buying an additional 6,394 shares in the last quarter. Matisse Capital boosted its stake in Abrdn Japan Equity Fund by 17.0% during the fourth quarter. Matisse Capital now owns 201,263 shares of the company's stock worth $1,157,000 after acquiring an additional 29,263 shares in the last quarter. Wolverine Asset Management LLC grew its holdings in Abrdn Japan Equity Fund by 77.9% in the fourth quarter. Wolverine Asset Management LLC now owns 165,606 shares of the company's stock worth $952,000 after purchasing an additional 72,496 shares during the period. Landscape Capital Management L.L.C. increased its stake in shares of Abrdn Japan Equity Fund by 84.5% during the third quarter. Landscape Capital Management L.L.C. now owns 98,148 shares of the company's stock valued at $613,000 after purchasing an additional 44,964 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Abrdn Japan Equity Fund by 8.0% during the fourth quarter. Bank of America Corp DE now owns 91,050 shares of the company's stock valued at $524,000 after purchasing an additional 6,724 shares during the last quarter. 62.72% of the stock is currently owned by institutional investors.
About Abrdn Japan Equity Fund
(
Get Free Report)
Abrdn Japan Equity Fund Inc is a close ended equity mutual fund launched and managed by Aberdeen Standard Investments (Asia) Limited. It invests in the public equity markets of Japan. The fund invests in stocks of companies operating across diversified sectors. It employs quantitative analysis to build its portfolio.
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