Matisse Capital Lowers Stake in Abrdn Emerging Markets Equity Income Fund Inc $AEF

Matisse Capital reduced its stake in shares of Abrdn Emerging Markets Equity Income Fund Inc (NYSE:AEF) by 80.3% in the third quarter, HoldingsChannel.com reports. The fund owned 23,050 shares of the company’s stock after selling 93,925 shares during the quarter. Matisse Capital’s holdings in Abrdn Emerging Markets Equity Income Fund were worth $149,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Absolute Investment Advisers LLC lifted its stake in Abrdn Emerging Markets Equity Income Fund by 20.7% during the second quarter. Absolute Investment Advisers LLC now owns 591,571 shares of the company’s stock worth $3,514,000 after purchasing an additional 101,299 shares during the last quarter. Shaker Financial Services LLC increased its position in shares of Abrdn Emerging Markets Equity Income Fund by 17.5% during the 2nd quarter. Shaker Financial Services LLC now owns 80,502 shares of the company’s stock valued at $478,000 after purchasing an additional 12,000 shares during the last quarter. Uncommon Cents Investing LLC raised its holdings in shares of Abrdn Emerging Markets Equity Income Fund by 1.6% during the 2nd quarter. Uncommon Cents Investing LLC now owns 323,426 shares of the company’s stock valued at $1,921,000 after buying an additional 5,045 shares in the last quarter. Bank of America Corp DE lifted its position in Abrdn Emerging Markets Equity Income Fund by 2.2% in the 2nd quarter. Bank of America Corp DE now owns 85,987 shares of the company’s stock worth $511,000 after buying an additional 1,824 shares during the last quarter. Finally, Creative Planning purchased a new stake in Abrdn Emerging Markets Equity Income Fund in the second quarter worth approximately $70,000. Institutional investors own 73.93% of the company’s stock.

Abrdn Emerging Markets Equity Income Fund Trading Down 0.5%

Shares of NYSE AEF opened at $7.44 on Tuesday. Abrdn Emerging Markets Equity Income Fund Inc has a one year low of $4.43 and a one year high of $7.54. The firm’s 50 day simple moving average is $6.95 and its two-hundred day simple moving average is $6.55.

Abrdn Emerging Markets Equity Income Fund Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 12th. Investors of record on Wednesday, December 31st were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $0.72 annualized dividend and a dividend yield of 9.7%. This is an increase from Abrdn Emerging Markets Equity Income Fund’s previous quarterly dividend of $0.17.

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.