Raymond James & Associates Sells 56,328 Shares of Abrdn Japan Equity Fund Inc (NYSE:JEQ)

Raymond James & Associates cut its position in shares of Abrdn Japan Equity Fund Inc (NYSE:JEQ) by 51.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 53,504 shares of the company’s stock after selling 56,328 shares during the quarter. Raymond James & Associates owned about 0.39% of Abrdn Japan Equity Fund worth $307,000 as of its most recent filing with the Securities & Exchange Commission.

Separately, Wolverine Asset Management LLC bought a new stake in Abrdn Japan Equity Fund in the third quarter worth $54,000. Hedge funds and other institutional investors own 62.72% of the company’s stock.

Abrdn Japan Equity Fund Price Performance

Abrdn Japan Equity Fund stock opened at $5.85 on Monday. The business’s fifty day simple moving average is $6.10 and its two-hundred day simple moving average is $5.76. Abrdn Japan Equity Fund Inc has a 12 month low of $4.99 and a 12 month high of $6.39.

Abrdn Japan Equity Fund Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, February 22nd were issued a $0.11 dividend. The ex-dividend date of this dividend was Wednesday, February 21st. This is a boost from Abrdn Japan Equity Fund’s previous quarterly dividend of $0.10. This represents a $0.44 dividend on an annualized basis and a yield of 7.52%.

Abrdn Japan Equity Fund Company Profile

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.