City of London Investment Management Co. Ltd. Sells 560,000 Shares of Abrdn Emerging Markets Equity Income Fund Inc $AEF

City of London Investment Management Co. Ltd. lessened its holdings in Abrdn Emerging Markets Equity Income Fund Inc (NYSE:AEF) by 4.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,175,804 shares of the company’s stock after selling 560,000 shares during the quarter. Abrdn Emerging Markets Equity Income Fund makes up approximately 6.7% of City of London Investment Management Co. Ltd.’s holdings, making the stock its 4th biggest holding. City of London Investment Management Co. Ltd. owned about 29.99% of Abrdn Emerging Markets Equity Income Fund worth $72,324,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Wolverine Asset Management LLC boosted its stake in Abrdn Emerging Markets Equity Income Fund by 147.7% in the first quarter. Wolverine Asset Management LLC now owns 428,231 shares of the company’s stock valued at $2,124,000 after acquiring an additional 255,349 shares during the last quarter. National Bank of Canada FI lifted its stake in shares of Abrdn Emerging Markets Equity Income Fund by 359.6% in the 1st quarter. National Bank of Canada FI now owns 69,048 shares of the company’s stock valued at $342,000 after purchasing an additional 54,025 shares during the period. Tabor Asset Management LP bought a new position in shares of Abrdn Emerging Markets Equity Income Fund in the 1st quarter worth $664,000. North Ground Capital grew its stake in shares of Abrdn Emerging Markets Equity Income Fund by 731.0% during the first quarter. North Ground Capital now owns 319,922 shares of the company’s stock worth $1,644,000 after purchasing an additional 281,422 shares during the period. Finally, Vanguard Capital Wealth Advisors grew its stake in shares of Abrdn Emerging Markets Equity Income Fund by 241.3% during the second quarter. Vanguard Capital Wealth Advisors now owns 993,754 shares of the company’s stock worth $5,903,000 after purchasing an additional 702,576 shares during the period. 73.93% of the stock is owned by institutional investors.

Abrdn Emerging Markets Equity Income Fund Trading Down 1.5%

NYSE AEF opened at $6.72 on Friday. Abrdn Emerging Markets Equity Income Fund Inc has a 12 month low of $4.43 and a 12 month high of $7.29. The stock has a 50-day simple moving average of $6.61 and a 200 day simple moving average of $6.09.

Abrdn Emerging Markets Equity Income Fund Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 23rd were paid a $0.17 dividend. The ex-dividend date of this dividend was Tuesday, September 23rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 10.1%.

Abrdn Emerging Markets Equity Income Fund Profile

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.