Abrdn Emerging Markets Equity Income Fund (NYSE:AEF) Director Purchases $19,460.00 in Stock

Abrdn Emerging Markets Equity Income Fund Inc (NYSE:AEF) Director Anthony Clark acquired 2,000 shares of the firm’s stock in a transaction on Monday, October 5th. The stock was bought at an average price of $9.73 per share, for a total transaction of $19,460.00. Following the completion of the acquisition, the director owned 8,000 shares of the company’s stock, valued at approximately $77,840. The trade was a 33.33% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website.

Abrdn Emerging Markets Equity Income Fund Trading Down 0.8%

Shares of NYSE:AEF traded down $0.08 during trading on Tuesday, reaching $9.66. 34,763 shares of the stock were exchanged, compared to its average volume of 162,300. The stock has a 50-day moving average price of $9.42 and a 200-day moving average price of $9.10. Abrdn Emerging Markets Equity Income Fund Inc has a 12 month low of $6.26 and a 12 month high of $10.14.

Abrdn Emerging Markets Equity Income Fund Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 22nd were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 10.8%. The ex-dividend date was Tuesday, September 22nd. This is a boost from Abrdn Emerging Markets Equity Income Fund’s previous quarterly dividend of $0.23.

Hedge Funds Weigh In On Abrdn Emerging Markets Equity Income Fund

A number of hedge funds have recently added to or reduced their stakes in AEF. Uhlmann Price Securities LLC lifted its position in shares of Abrdn Emerging Markets Equity Income Fund by 5.5% during the 1st quarter. Uhlmann Price Securities LLC now owns 40,859 shares of the company’s stock valued at $298,000 after acquiring an additional 2,129 shares during the period. Evolve Private Wealth LLC lifted its stake in Abrdn Emerging Markets Equity Income Fund by 3.2% during the first quarter. Evolve Private Wealth LLC now owns 112,511 shares of the company’s stock worth $820,000 after purchasing an additional 3,468 shares during the last quarter. Noble Wealth Management PBC acquired a new stake in shares of Abrdn Emerging Markets Equity Income Fund in the 2nd quarter valued at $34,000. Bard Associates Inc. bought a new position in shares of Abrdn Emerging Markets Equity Income Fund in the 4th quarter valued at $57,000. Finally, Private Advisor Group LLC lifted its position in shares of Abrdn Emerging Markets Equity Income Fund by 7.4% during the 1st quarter. Private Advisor Group LLC now owns 191,749 shares of the company’s stock worth $1,398,000 after buying an additional 13,205 shares during the last quarter. Institutional investors own 73.93% of the company’s stock.

About Abrdn Emerging Markets Equity Income Fund

abrdn Emerging Markets Equity Income Fund, Inc (NYSE: AEF) is a closed-end investment company that seeks to provide investors with a high level of current income and long-term capital appreciation. The fund invests primarily in equity securities of companies located in, or deriving a significant portion of their business from, emerging-market countries.

The portfolio generally emphasizes dividend-paying stocks across a range of industries and emerging-market economies. Its investments may include common stocks and other equity-related securities, providing exposure to companies in regions such as Asia, Latin America, Eastern Europe, the Middle East and Africa, although the fund’s geographic allocation may change over time.

The fund is managed by abrdn, a global investment management firm.