Abrdn Emerging Markets Equity Income Fund (NYSE:AEF) Stock Price Up 0.4% – Should You Buy?

Abrdn Emerging Markets Equity Income Fund Inc (NYSE:AEF)’s stock price traded up 0.4% during mid-day trading on Tuesday . The company traded as high as $5.28 and last traded at $5.28. 249,815 shares traded hands during trading, an increase of 114% from the average session volume of 116,479 shares. The stock had previously closed at $5.26.

Abrdn Emerging Markets Equity Income Fund Stock Down 0.6 %

The company has a 50-day simple moving average of $5.32 and a two-hundred day simple moving average of $5.36.

Abrdn Emerging Markets Equity Income Fund Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Monday, December 30th will be issued a $0.10 dividend. The ex-dividend date is Monday, December 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 7.62%.

Institutional Investors Weigh In On Abrdn Emerging Markets Equity Income Fund

A number of hedge funds have recently made changes to their positions in the business. Private Advisor Group LLC grew its position in Abrdn Emerging Markets Equity Income Fund by 3.0% in the 3rd quarter. Private Advisor Group LLC now owns 91,321 shares of the company’s stock valued at $515,000 after buying an additional 2,618 shares in the last quarter. Raymond James & Associates boosted its holdings in shares of Abrdn Emerging Markets Equity Income Fund by 11.8% in the third quarter. Raymond James & Associates now owns 837,068 shares of the company’s stock valued at $4,717,000 after acquiring an additional 88,379 shares in the last quarter. Sanctuary Advisors LLC bought a new position in shares of Abrdn Emerging Markets Equity Income Fund in the second quarter valued at approximately $586,000. Wolverine Asset Management LLC increased its stake in shares of Abrdn Emerging Markets Equity Income Fund by 362.5% during the third quarter. Wolverine Asset Management LLC now owns 152,628 shares of the company’s stock valued at $860,000 after acquiring an additional 119,630 shares during the period. Finally, City of London Investment Management Co. Ltd. raised its holdings in Abrdn Emerging Markets Equity Income Fund by 0.9% during the second quarter. City of London Investment Management Co. Ltd. now owns 19,645,305 shares of the company’s stock worth $103,747,000 after purchasing an additional 171,698 shares in 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 is a closed ended balanced mutual fund and managed by Aberdeen Asset Managers Limited. It invests in the public equity and fixed income markets of Chile. The fund seeks to invest in securities of companies operating across diversified sectors. It employs fundamental analysis with a bottom-up security selection approach to create its portfolio.