Allspring Global Investments Holdings LLC Reduces Holdings in Abrdn Japan Equity Fund Inc (NYSE:JEQ)

Allspring Global Investments Holdings LLC decreased its position in shares of Abrdn Japan Equity Fund Inc (NYSE:JEQ) by 2.5% during the fourth quarter, HoldingsChannel reports. The fund owned 2,543,138 shares of the company’s stock after selling 64,449 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.19% of Abrdn Japan Equity Fund worth $14,598,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. UBS Group AG lifted its stake in Abrdn Japan Equity Fund by 106.7% in the first quarter. UBS Group AG now owns 8,943 shares of the company’s stock worth $49,000 after purchasing an additional 4,616 shares during the last quarter. Baird Financial Group Inc. grew its stake in shares of Abrdn Japan Equity Fund by 6.3% during the second quarter. Baird Financial Group Inc. now owns 106,341 shares of the company’s stock valued at $645,000 after buying an additional 6,349 shares during the last quarter. JPMorgan Chase & Co. purchased a new stake in shares of Abrdn Japan Equity Fund in the second quarter worth approximately $41,000. Lazard Asset Management LLC lifted its stake in shares of Abrdn Japan Equity Fund by 0.7% during the 2nd quarter. Lazard Asset Management LLC now owns 1,497,284 shares of the company’s stock worth $9,088,000 after acquiring an additional 9,859 shares during the last quarter. Finally, Wolverine Asset Management LLC purchased a new position in Abrdn Japan Equity Fund during the 3rd quarter valued at $54,000. Hedge funds and other institutional investors own 62.72% of the company’s stock.

Abrdn Japan Equity Fund Stock Down 0.3 %

Shares of Abrdn Japan Equity Fund stock opened at $5.97 on Tuesday. Abrdn Japan Equity Fund Inc has a 52 week low of $4.99 and a 52 week high of $6.39. The stock’s fifty day moving average is $6.13 and its two-hundred day moving average is $5.73.

Abrdn Japan Equity Fund Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, February 22nd were issued a $0.11 dividend. The ex-dividend date was Wednesday, February 21st. This is a boost from Abrdn Japan Equity Fund’s previous quarterly dividend of $0.10. This represents a $0.44 dividend on an annualized basis and a dividend yield of 7.37%.

Abrdn Japan Equity Fund Company Profile

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.