Successful Portfolios LLC Grows Stake in Abrdn Japan Equity Fund Inc (NYSE:JEQ)

Successful Portfolios LLC lifted its holdings in shares of Abrdn Japan Equity Fund Inc (NYSE:JEQ) by 4.0% during the third quarter, Holdings Channel reports. The fund owned 85,674 shares of the company’s stock after purchasing an additional 3,271 shares during the quarter. Successful Portfolios LLC’s holdings in Abrdn Japan Equity Fund were worth $535,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sanctuary Advisors LLC purchased a new stake in shares of Abrdn Japan Equity Fund during the second quarter worth about $155,000. Logan Stone Capital LLC purchased a new stake in shares of Abrdn Japan Equity Fund during the second quarter worth about $212,000. Shaker Financial Services LLC grew its stake in Abrdn Japan Equity Fund by 12.5% in the second quarter. Shaker Financial Services LLC now owns 68,399 shares of the company’s stock worth $402,000 after purchasing an additional 7,586 shares in the last quarter. City of London Investment Management Co. Ltd. grew its stake in Abrdn Japan Equity Fund by 23.3% in the second quarter. City of London Investment Management Co. Ltd. now owns 145,213 shares of the company’s stock worth $852,000 after purchasing an additional 27,425 shares in the last quarter. Finally, Wolverine Asset Management LLC grew its stake in Abrdn Japan Equity Fund by 55.5% in the second quarter. Wolverine Asset Management LLC now owns 152,405 shares of the company’s stock worth $895,000 after purchasing an additional 54,374 shares in the last quarter. 62.72% of the stock is owned by hedge funds and other institutional investors.

Abrdn Japan Equity Fund Stock Performance

NYSE:JEQ remained flat at $6.17 during mid-day trading on Friday. The company had a trading volume of 523 shares, compared to its average volume of 42,847. Abrdn Japan Equity Fund Inc has a fifty-two week low of $4.99 and a fifty-two week high of $6.39. The business has a fifty day simple moving average of $6.04 and a 200 day simple moving average of $5.99.

Abrdn Japan Equity Fund Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, August 23rd were paid a $0.12 dividend. The ex-dividend date was Friday, August 23rd. This represents a $0.48 dividend on an annualized basis and a yield of 7.78%.

Abrdn Japan Equity Fund 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.