Abrdn Japan Equity Fund Inc (NYSE:JEQ) Shares Sold by 1607 Capital Partners LLC

1607 Capital Partners LLC cut its holdings in Abrdn Japan Equity Fund Inc (NYSE:JEQ - Free Report) by 6.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,909,956 shares of the company's stock after selling 193,756 shares during the period. Abrdn Japan Equity Fund makes up 1.3% of 1607 Capital Partners LLC's portfolio, making the stock its 22nd largest position. 1607 Capital Partners LLC owned 21.01% of Abrdn Japan Equity Fund worth $16,732,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Blue Bell Private Wealth Management LLC raised its stake in shares of Abrdn Japan Equity Fund by 40.7% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 25,526 shares of the company's stock worth $147,000 after buying an additional 7,381 shares during the period. Wolverine Asset Management LLC lifted its holdings in shares of Abrdn Japan Equity Fund by 77.9% during the fourth quarter. Wolverine Asset Management LLC now owns 165,606 shares of the company's stock worth $952,000 after purchasing an additional 72,496 shares during the period. Finally, Matisse Capital increased its holdings in shares of Abrdn Japan Equity Fund by 17.0% during the 4th quarter. Matisse Capital now owns 201,263 shares of the company's stock valued at $1,157,000 after purchasing an additional 29,263 shares in the last quarter. 62.72% of the stock is owned by institutional investors.

Abrdn Japan Equity Fund Stock Down 0.6 %

Shares of JEQ traded down $0.04 during midday trading on Monday, reaching $6.25. The company had a trading volume of 166,886 shares, compared to its average volume of 58,889. The firm has a 50 day simple moving average of $6.16 and a 200-day simple moving average of $5.96. Abrdn Japan Equity Fund Inc has a 1-year low of $5.27 and a 1-year high of $6.77.

Abrdn Japan Equity Fund Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, February 21st were issued a $0.11 dividend. The ex-dividend date was Friday, February 21st. This represents a $0.44 annualized dividend and a dividend yield of 7.04%.

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.