Abrdn Emerging Markets Equity Income Fund Inc $AEF Shares Sold by 1607 Capital Partners LLC

1607 Capital Partners LLC trimmed its holdings in shares of Abrdn Emerging Markets Equity Income Fund Inc (NYSE:AEF) by 6.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,518,526 shares of the company’s stock after selling 109,862 shares during the quarter. 1607 Capital Partners LLC’s holdings in Abrdn Emerging Markets Equity Income Fund were worth $10,630,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bard Associates Inc. acquired a new position in Abrdn Emerging Markets Equity Income Fund during the fourth quarter valued at approximately $57,000. Creative Planning acquired a new position in Abrdn Emerging Markets Equity Income Fund during the second quarter valued at approximately $70,000. Royal Bank of Canada raised its stake in shares of Abrdn Emerging Markets Equity Income Fund by 24.5% during the fourth quarter. Royal Bank of Canada now owns 12,971 shares of the company’s stock valued at $91,000 after purchasing an additional 2,556 shares during the period. Closed End Fund Advisors Inc. purchased a new stake in shares of Abrdn Emerging Markets Equity Income Fund during the fourth quarter valued at approximately $541,000. Finally, Bank of America Corp DE raised its stake in shares of Abrdn Emerging Markets Equity Income Fund by 2.2% during the second quarter. Bank of America Corp DE now owns 85,987 shares of the company’s stock valued at $511,000 after purchasing an additional 1,824 shares during the period. 73.93% of the stock is owned by institutional investors and hedge funds.

Abrdn Emerging Markets Equity Income Fund Trading Down 1.3%

AEF opened at $9.74 on Thursday. The firm’s 50 day moving average is $9.22 and its 200-day moving average is $8.14. Abrdn Emerging Markets Equity Income Fund Inc has a 52-week low of $5.51 and a 52-week high of $10.14.

Abrdn Emerging Markets Equity Income Fund Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 23rd will be paid a dividend of $0.23 per share. This is an increase 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 9.4%. The ex-dividend date is Tuesday, June 23rd.

Abrdn Emerging Markets Equity Income Fund Profile

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.