Allspring Global Investments Holdings LLC Reduces Position in Abrdn Emerging Markets Equity Income Fund Inc $AEF

Allspring Global Investments Holdings LLC lowered its holdings in Abrdn Emerging Markets Equity Income Fund Inc (NYSE:AEF) by 9.0% in the fourth quarter, HoldingsChannel reports. The firm owned 2,840,745 shares of the company’s stock after selling 279,702 shares during the period. Allspring Global Investments Holdings LLC owned about 0.07% of Abrdn Emerging Markets Equity Income Fund worth $19,885,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the business. Creative Planning purchased a new stake in Abrdn Emerging Markets Equity Income Fund during the 2nd quarter worth approximately $70,000. Quantedge Capital Pte Ltd raised its position in shares of Abrdn Emerging Markets Equity Income Fund by 6.7% in the 2nd quarter. Quantedge Capital Pte Ltd now owns 60,700 shares of the company’s stock valued at $361,000 after purchasing an additional 3,800 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Abrdn Emerging Markets Equity Income Fund by 2.2% during the 2nd quarter. Bank of America Corp DE now owns 85,987 shares of the company’s stock valued at $511,000 after buying an additional 1,824 shares during the last quarter. Shaker Financial Services LLC grew its position in shares of Abrdn Emerging Markets Equity Income Fund by 17.2% during the third quarter. Shaker Financial Services LLC now owns 94,331 shares of the company’s stock worth $611,000 after buying an additional 13,829 shares in the last quarter. Finally, TrueMark Investments LLC acquired a new stake in shares of Abrdn Emerging Markets Equity Income Fund during the third quarter worth approximately $613,000. Institutional investors and hedge funds own 73.93% of the company’s stock.

Abrdn Emerging Markets Equity Income Fund Stock Performance

Shares of NYSE:AEF opened at $7.38 on Friday. The company has a fifty day simple moving average of $7.92 and a 200 day simple moving average of $7.22. Abrdn Emerging Markets Equity Income Fund Inc has a 12-month low of $4.43 and a 12-month high of $8.93.

Abrdn Emerging Markets Equity Income Fund Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 24th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Tuesday, March 24th. This represents a $0.84 annualized dividend and a yield of 11.4%. This is an increase from Abrdn Emerging Markets Equity Income Fund’s previous quarterly dividend of $0.18.

Abrdn Emerging Markets Equity Income Fund Company 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.