City Of London Investment Group Plc

stated that they own a 41.7% stake in Aberdeen Latin America Equity Fund, Inc. (NYSE:LAQ) in a Form 13D/A disclosure that was filed with the SEC on Thursday, October 5th. The investor owns 3,104,563 shares of the stock valued at about $91,615,654. The reporting parties listed on the disclosure included City of London Investment Group PLC, (CLIG) a company incorporated under the laws of England and Wales and City of London Investment Management Company Limited (CLIM), a company incorporated under the laws of England and Wales. The filing is available through the SEC website at this link.

City Of London Investment Group Plc

provided the following explanation of their ownership:

City of London Investment Management Company Limited and the Fund have entered into a Standstill Agreement, effective October 3,2017, and terminating on December 31,2019. The Standstill Agreement is attached as Exhibit A.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Citigroup Inc. raised its holdings in shares of Aberdeen Latin America Equity Fund by 3.9% during the 2nd quarter. Citigroup Inc. now owns 17,759 shares of the company’s stock worth $412,000 after acquiring an additional 669 shares during the period. Mraz Amerine & Associates Inc. raised its holdings in shares of Aberdeen Latin America Equity Fund by 9.4% during the 2nd quarter. Mraz Amerine & Associates Inc. now owns 29,142 shares of the company’s stock worth $675,000 after acquiring an additional 2,500 shares during the period. Finally, Sii Investments Inc. WI raised its holdings in shares of Aberdeen Latin America Equity Fund by 24.0% during the 2nd quarter. Sii Investments Inc. WI now owns 48,605 shares of the company’s stock worth $1,124,000 after acquiring an additional 9,400 shares during the period.

Aberdeen Latin America Equity Fund, Inc. (LAQ) traded up 3.54% on Thursday, hitting $29.51. The stock had a trading volume of 118,012 shares. Aberdeen Latin America Equity Fund, Inc. has a one year low of $18.87 and a one year high of $29.90. The stock’s 50 day moving average is $27.24 and its 200 day moving average is $24.74.

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About Aberdeen Latin America Equity Fund

Aberdeen Latin America Equity Fund, Inc (the Fund) is a non-diversified closed-end, management investment company. The Fund’s investment objective is to seek long-term capital appreciation by investing in Latin American equity securities. The Fund may invest approximately 10% of its assets (at the time of commitment) in illiquid equity securities, including securities of private equity funds (whether in corporate or partnership form) that invest in emerging markets.

Institutional Ownership by Quarter for Aberdeen Latin America Equity Fund (NYSE:LAQ)

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