Abrdn Emerging Markets Equity Income Fund (NYSE:AEF) Trading Up 0.8% – Should You Buy?

Shares of Abrdn Emerging Markets Equity Income Fund Inc (NYSE:AEF – Get Free Report) were up 0.8% on Thursday . The stock traded as high as $9.40 and last traded at $9.28. Approximately 228,370 shares changed hands during trading, an increase of 18% from the average session volume of 192,771 shares. The stock had previously closed at $9.21.

Abrdn Emerging Markets Equity Income Fund Stock Performance

The company has a 50-day moving average of $9.50 and a 200-day moving average of $8.43.

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Abrdn Emerging Markets Equity Income Fund Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 23rd were paid a dividend of $0.23 per share. The ex-dividend date was Tuesday, June 23rd. This is a positive change from Abrdn Emerging Markets Equity Income Fund’s previous quarterly dividend of $0.21. This represents a $0.92 dividend on an annualized basis and a dividend yield of 9.9%.

Hedge Funds Weigh In On Abrdn Emerging Markets Equity Income Fund

Hedge funds have recently modified their holdings of the stock. Evolve Private Wealth LLC acquired a new stake in Abrdn Emerging Markets Equity Income Fund in the 4th quarter worth approximately $783,000. LPL Financial LLC increased its stake in Abrdn Emerging Markets Equity Income Fund by 312.7% during the 4th quarter. LPL Financial LLC now owns 143,509 shares of the company’s stock valued at $1,005,000 after purchasing an additional 108,738 shares in the last quarter. Alpine Global Management LLC purchased a new position in shares of Abrdn Emerging Markets Equity Income Fund in the third quarter worth $648,000. Guggenheim Capital LLC raised its holdings in shares of Abrdn Emerging Markets Equity Income Fund by 105.1% in the fourth quarter. Guggenheim Capital LLC now owns 171,690 shares of the company’s stock worth $1,202,000 after buying an additional 87,965 shares during the last quarter. Finally, Closed End Fund Advisors Inc. acquired a new stake in shares of Abrdn Emerging Markets Equity Income Fund during the fourth quarter worth $541,000. Institutional investors and hedge funds own 73.93% of the company’s stock.

About Abrdn Emerging Markets Equity Income Fund

(Get Free Report)

Abrdn Emerging Markets Equity Income Fund (NYSE:AEF) is a closed‐end investment company that seeks to provide investors with a combination of current income and long-term capital appreciation by investing primarily in dividend-paying equities of companies located in emerging market countries. The fund offers investors access to a diversified portfolio of stocks across Asia, Latin America, Eastern Europe, the Middle East and Africa, targeting firms with strong cash flow characteristics and sustainable payout policies.

The investment process combines bottom-up fundamental research with a disciplined focus on income generation.

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