Raymond James & Associates Reduces Holdings in Abrdn Japan Equity Fund Inc (NYSE:JEQ)

Raymond James & Associates decreased its position in shares of Abrdn Japan Equity Fund Inc (NYSE:JEQ) by 51.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 53,504 shares of the company’s stock after selling 56,328 shares during the period. Raymond James & Associates’ holdings in Abrdn Japan Equity Fund were worth $307,000 at the end of the most recent reporting period.

Separately, Wolverine Asset Management LLC bought a new stake in shares of Abrdn Japan Equity Fund in the 3rd quarter worth about $54,000. Institutional investors own 62.72% of the company’s stock.

Abrdn Japan Equity Fund Stock Up 0.7 %

Shares of NYSE:JEQ opened at $5.85 on Monday. Abrdn Japan Equity Fund Inc has a fifty-two week low of $4.99 and a fifty-two week high of $6.39. The firm has a 50-day simple moving average of $6.10 and a 200 day simple moving average of $5.76.

Abrdn Japan Equity Fund Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, February 22nd were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 7.52%. The ex-dividend date was Wednesday, February 21st. This is an increase from Abrdn Japan Equity Fund’s previous quarterly dividend of $0.10.

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.