Abrdn Emerging Markets Equity Income Fund Inc (NYSE:AEF) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC decreased its stake in Abrdn Emerging Markets Equity Income Fund Inc (NYSE:AEF) by 4.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 72,010 shares of the company’s stock after selling 3,419 shares during the period. Commonwealth Equity Services LLC’s holdings in Abrdn Emerging Markets Equity Income Fund were worth $374,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in AEF. Kovitz Investment Group Partners LLC purchased a new position in shares of Abrdn Emerging Markets Equity Income Fund in the 3rd quarter valued at approximately $2,631,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Abrdn Emerging Markets Equity Income Fund in the third quarter valued at about $3,574,000. Private Advisor Group LLC boosted its stake in shares of Abrdn Emerging Markets Equity Income Fund by 20.7% during the fourth quarter. Private Advisor Group LLC now owns 110,256 shares of the company’s stock valued at $572,000 after acquiring an additional 18,935 shares during the last quarter. Wolverine Asset Management LLC raised its holdings in Abrdn Emerging Markets Equity Income Fund by 13.3% in the 4th quarter. Wolverine Asset Management LLC now owns 172,882 shares of the company’s stock valued at $897,000 after acquiring an additional 20,254 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Abrdn Emerging Markets Equity Income Fund during the 4th quarter worth about $4,329,000. 73.93% of the stock is owned by hedge funds and other institutional investors.

Abrdn Emerging Markets Equity Income Fund Stock Performance

Abrdn Emerging Markets Equity Income Fund stock opened at $4.64 on Monday. The stock’s 50-day moving average is $5.24 and its 200-day moving average is $5.34. Abrdn Emerging Markets Equity Income Fund Inc has a 12 month low of $4.62 and a 12 month high of $5.84.

Abrdn Emerging Markets Equity Income Fund Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 25th were paid a dividend of $0.15 per share. This is a boost from Abrdn Emerging Markets Equity Income Fund’s previous quarterly dividend of $0.10. This represents a $0.60 annualized dividend and a dividend yield of 12.93%. The ex-dividend date was Tuesday, March 25th.

Abrdn Emerging Markets Equity Income Fund Profile

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.