Short Interest in Abrdn Japan Equity Fund Inc (NYSE:JEQ) Increases By 37.9%

Abrdn Japan Equity Fund Inc (NYSE:JEQ) was the recipient of a large increase in short interest during the month of September. As of September 30th, there was short interest totalling 14,200 shares, an increase of 37.9% from the September 15th total of 10,300 shares. Based on an average daily volume of 63,800 shares, the days-to-cover ratio is presently 0.2 days.

Abrdn Japan Equity Fund Price Performance

Abrdn Japan Equity Fund stock opened at $6.18 on Tuesday. The firm has a 50-day moving average price of $6.06 and a two-hundred day moving average price of $5.99. Abrdn Japan Equity Fund has a 52-week low of $4.99 and a 52-week high of $6.39.

Abrdn Japan Equity Fund Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, August 23rd were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 7.77%. The ex-dividend date of this dividend was Friday, August 23rd.

Institutional Trading of Abrdn Japan Equity Fund

Hedge funds have recently added to or reduced their stakes in the business. Successful Portfolios LLC increased its holdings in shares of Abrdn Japan Equity Fund by 4.0% during the third quarter. Successful Portfolios LLC now owns 85,674 shares of the company’s stock valued at $535,000 after purchasing an additional 3,271 shares during the period. Sanctuary Advisors LLC acquired a new position in Abrdn Japan Equity Fund during the 2nd quarter valued at about $155,000. Logan Stone Capital LLC bought a new stake in shares of Abrdn Japan Equity Fund during the 2nd quarter worth about $212,000. City of London Investment Management Co. Ltd. lifted its stake in shares of Abrdn Japan Equity Fund by 23.3% in the 2nd quarter. City of London Investment Management Co. Ltd. now owns 145,213 shares of the company’s stock worth $852,000 after acquiring an additional 27,425 shares during the period. Finally, Shaker Financial Services LLC lifted its stake in shares of Abrdn Japan Equity Fund by 12.5% in the 2nd quarter. Shaker Financial Services LLC now owns 68,399 shares of the company’s stock worth $402,000 after acquiring an additional 7,586 shares during the period. Institutional investors own 62.72% of the company’s stock.

About Abrdn Japan Equity Fund

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.