Abrdn Emerging Markets Equity Income Fund Inc $AEF Shares Sold by 1607 Capital Partners LLC

1607 Capital Partners LLC lessened its stake in shares of Abrdn Emerging Markets Equity Income Fund Inc (NYSE:AEF) by 7.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,628,388 shares of the company’s stock after selling 124,304 shares during the quarter. 1607 Capital Partners LLC owned about 4.01% of Abrdn Emerging Markets Equity Income Fund worth $10,552,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of AEF. Penserra Capital Management LLC purchased a new position in shares of Abrdn Emerging Markets Equity Income Fund in the 3rd quarter valued at $4,334,000. Private Advisor Group LLC lifted its position in Abrdn Emerging Markets Equity Income Fund by 7.1% in the third quarter. Private Advisor Group LLC now owns 172,544 shares of the company’s stock valued at $1,118,000 after acquiring an additional 11,500 shares during the last quarter. TrueMark Investments LLC acquired a new position in Abrdn Emerging Markets Equity Income Fund in the third quarter valued at $613,000. Shaker Financial Services LLC boosted its stake in Abrdn Emerging Markets Equity Income Fund by 17.2% in the third quarter. Shaker Financial Services LLC now owns 94,331 shares of the company’s stock valued at $611,000 after acquiring an additional 13,829 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of Abrdn Emerging Markets Equity Income Fund by 2.2% during the second quarter. Bank of America Corp DE now owns 85,987 shares of the company’s stock worth $511,000 after purchasing an additional 1,824 shares during the last quarter. Institutional investors and hedge funds own 73.93% of the company’s stock.

Abrdn Emerging Markets Equity Income Fund Stock Down 1.6%

Shares of AEF stock opened at $7.41 on Friday. The stock’s 50-day moving average is $7.93 and its two-hundred day moving average is $7.10. Abrdn Emerging Markets Equity Income Fund Inc has a 1 year low of $4.43 and a 1 year high of $8.93.

Abrdn Emerging Markets Equity Income Fund Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 24th will be paid a dividend of $0.21 per share. The ex-dividend date is Tuesday, March 24th. This represents a $0.84 dividend on an annualized basis and a yield of 11.3%. This is a boost from Abrdn Emerging Markets Equity Income Fund’s previous quarterly dividend of $0.18.

Abrdn Emerging Markets Equity Income Fund Company 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.