Abrdn Japan Equity Fund Inc (NYSE:JEQ - Get Free Report)'s share price fell 0.9% on Monday . The stock traded as low as $5.65 and last traded at $5.81. 66,884 shares traded hands during mid-day trading, an increase of 26% from the average session volume of 52,881 shares. The stock had previously closed at $5.86.
Abrdn Japan Equity Fund Stock Performance
The stock has a 50-day moving average of $6.12 and a two-hundred day moving average of $5.95.
Abrdn Japan Equity Fund Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, February 21st were paid a dividend of $0.11 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $0.44 dividend on an annualized basis and a yield of 7.21%.
Hedge Funds Weigh In On Abrdn Japan Equity Fund
A number of hedge funds have recently added to or reduced their stakes in JEQ. Kovitz Investment Group Partners LLC purchased a new position in Abrdn Japan Equity Fund in the 3rd quarter worth about $65,000. Matisse Capital lifted its position in shares of Abrdn Japan Equity Fund by 17.0% during the 4th quarter. Matisse Capital now owns 201,263 shares of the company's stock valued at $1,157,000 after buying an additional 29,263 shares in the last quarter. Wolverine Asset Management LLC lifted its holdings in Abrdn Japan Equity Fund by 77.9% during the fourth quarter. Wolverine Asset Management LLC now owns 165,606 shares of the company's stock valued at $952,000 after purchasing an additional 72,496 shares in the last quarter. Blue Bell Private Wealth Management LLC lifted its stake in shares of Abrdn Japan Equity Fund by 40.7% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 25,526 shares of the company's stock valued at $147,000 after buying an additional 7,381 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of Abrdn Japan Equity Fund by 8.0% in the fourth quarter. Bank of America Corp DE now owns 91,050 shares of the company's stock worth $524,000 after acquiring an additional 6,724 shares during the period. 62.72% of the stock is currently owned by hedge funds and other 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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