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

1607 Capital Partners LLC cut its stake in Abrdn Emerging Markets Equity Income Fund Inc (NYSE:AEF) by 6.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,518,526 shares of the company’s stock after selling 109,862 shares during the period. 1607 Capital Partners LLC owned approximately 3.74% of Abrdn Emerging Markets Equity Income Fund worth $10,630,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Closed End Fund Advisors Inc. acquired a new stake in shares of Abrdn Emerging Markets Equity Income Fund in the fourth quarter worth approximately $541,000. Alpine Global Management LLC acquired a new stake in shares of Abrdn Emerging Markets Equity Income Fund in the third quarter worth approximately $648,000. TrueMark Investments LLC boosted its position in shares of Abrdn Emerging Markets Equity Income Fund by 2.5% in the fourth quarter. TrueMark Investments LLC now owns 97,049 shares of the company’s stock worth $679,000 after acquiring an additional 2,387 shares during the last quarter. Guggenheim Capital LLC boosted its position 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 acquiring an additional 87,965 shares during the last quarter. Finally, Private Advisor Group LLC lifted its position in Abrdn Emerging Markets Equity Income Fund by 7.1% during the third quarter. Private Advisor Group LLC now owns 172,544 shares of the company’s stock valued at $1,118,000 after buying an additional 11,500 shares in the last quarter. 73.93% of the stock is owned by institutional investors and hedge funds.

Abrdn Emerging Markets Equity Income Fund Stock Down 1.3%

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

Abrdn Emerging Markets Equity Income Fund Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 23rd will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 9.4%. This is a positive change from Abrdn Emerging Markets Equity Income Fund’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend 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.