1607 Capital Partners LLC Sells 165,803 Shares of Abrdn Emerging Markets Equity Income Fund Inc (NYSE:AEF)

1607 Capital Partners LLC trimmed its holdings in Abrdn Emerging Markets Equity Income Fund Inc (NYSE:AEF) by 4.8% in the 4th quarter, HoldingsChannel reports. The firm owned 3,295,495 shares of the company’s stock after selling 165,803 shares during the quarter. Abrdn Emerging Markets Equity Income Fund makes up approximately 1.4% of 1607 Capital Partners LLC’s portfolio, making the stock its 20th largest holding. 1607 Capital Partners LLC owned about 0.06% of Abrdn Emerging Markets Equity Income Fund worth $17,104,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new position in shares of Abrdn Emerging Markets Equity Income Fund during the fourth quarter valued at about $4,329,000. PNC Financial Services Group Inc. grew its holdings in Abrdn Emerging Markets Equity Income Fund by 94.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 9,385 shares of the company’s stock valued at $49,000 after buying an additional 4,555 shares in the last quarter. HighTower Advisors LLC bought a new stake in Abrdn Emerging Markets Equity Income Fund in the 4th quarter worth approximately $199,000. Private Advisor Group LLC raised its holdings in shares of Abrdn Emerging Markets Equity Income Fund by 20.7% during the 4th quarter. Private Advisor Group LLC now owns 110,256 shares of the company’s stock worth $572,000 after acquiring an additional 18,935 shares in the last quarter. Finally, Wolverine Asset Management LLC grew its holdings in shares of Abrdn Emerging Markets Equity Income Fund by 13.3% in the fourth quarter. Wolverine Asset Management LLC now owns 172,882 shares of the company’s stock valued at $897,000 after purchasing an additional 20,254 shares in the last quarter. 73.93% of the stock is owned by hedge funds and other institutional investors.

Abrdn Emerging Markets Equity Income Fund Stock Up 0.4 %

Abrdn Emerging Markets Equity Income Fund stock opened at $4.88 on Wednesday. Abrdn Emerging Markets Equity Income Fund Inc has a 52-week low of $4.43 and a 52-week high of $5.84. The firm’s fifty day moving average is $5.11 and its 200 day moving average is $5.29.

Abrdn Emerging Markets Equity Income Fund Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Tuesday, March 25th were issued a $0.15 dividend. This is an increase from Abrdn Emerging Markets Equity Income Fund’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Tuesday, March 25th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 12.30%.

Abrdn Emerging Markets Equity Income Fund Company 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.