City of London Investment Management Co. Ltd. Has $852,000 Holdings in Abrdn Japan Equity Fund Inc (NYSE:JEQ)

City of London Investment Management Co. Ltd. raised its stake in Abrdn Japan Equity Fund Inc (NYSE:JEQ) by 23.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 145,213 shares of the company’s stock after buying an additional 27,425 shares during the quarter. City of London Investment Management Co. Ltd. owned 1.05% of Abrdn Japan Equity Fund worth $852,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Successful Portfolios LLC increased its stake in shares of Abrdn Japan Equity Fund by 3.4% in the 1st quarter. Successful Portfolios LLC now owns 82,473 shares of the company’s stock valued at $514,000 after acquiring an additional 2,709 shares during the last quarter. Wolverine Asset Management LLC grew its holdings in Abrdn Japan Equity Fund by 55.5% during the second quarter. Wolverine Asset Management LLC now owns 152,405 shares of the company’s stock valued at $895,000 after purchasing an additional 54,374 shares during the period. Finally, Shaker Financial Services LLC increased 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 valued at $402,000 after purchasing an additional 7,586 shares in the last quarter. Institutional investors own 62.72% of the company’s stock.

Abrdn Japan Equity Fund Price Performance

Shares of NYSE JEQ opened at $6.01 on Monday. Abrdn Japan Equity Fund Inc has a twelve month low of $4.99 and a twelve month high of $6.39. The company’s fifty day moving average is $5.99 and its 200-day moving average is $5.99.

Abrdn Japan Equity Fund Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, August 23rd will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, August 23rd. This represents a $0.48 annualized dividend and a yield of 7.99%.

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.