Abrdn Emerging Markets Equity Income Fund Inc (NYSE:AEF) Sees Large Growth in Short Interest

Key Points

• Abrdn Emerging Markets Equity Income Fund Inc (NYSE:AEF) experienced a **697.8% increase** in short interest in July, totaling 251,300 shares.
• The fund has **73.93% of its stock owned** by institutional investors and hedge funds, indicating strong institutional interest.
• A recent dividend announcement revealed a **$0.15 per share dividend**, translating to an annualized yield of **9.8%** for shareholders.

Abrdn Emerging Markets Equity Income Fund Inc (NYSE:AEF - ) saw a significant growth in short interest during the month of July. As of July 31st, there was short interest totaling 251,300 shares, agrowthof697.8% from the July 15th total of 31,500 shares. Approximately0.6% of the shares of the company are short sold. Based on an average daily volume of 145,700 shares, the days-to-cover ratio is presently 1.7 days. Based on an average daily volume of 145,700 shares, the days-to-cover ratio is presently 1.7 days. Approximately0.6% of the shares of the company are short sold.

Hedge Funds Weigh In On Abrdn Emerging Markets Equity Income Fund

Hedge funds and other institutional investors have recently made changes to their positions in the business. Guggenheim Capital LLC acquired a new position in shares of Abrdn Emerging Markets Equity Income Fund during the fourth quarter worth approximately $57,000. Creative Planning acquired a new stake in Abrdn Emerging Markets Equity Income Fund in the second quarter worth approximately $70,000. PNC Financial Services Group Inc. lifted its position in Abrdn Emerging Markets Equity Income Fund by 28.1% in the first quarter. PNC Financial Services Group Inc. now owns 12,026 shares of the company's stock worth $60,000 after purchasing an additional 2,641 shares during the period. Paragon Capital Management Ltd acquired a new stake in Abrdn Emerging Markets Equity Income Fund in the first quarter worth approximately $72,000. Finally, Almitas Capital LLC acquired a new stake in Abrdn Emerging Markets Equity Income Fund in the fourth quarter worth approximately $137,000. 73.93% of the stock is currently owned by institutional investors and hedge funds.

Abrdn Emerging Markets Equity Income Fund Stock Down 0.9%

Shares of NYSE:AEF traded down $0.06 during trading on Thursday, hitting $6.13. 39,950 shares of the company traded hands, compared to its average volume of 199,974. The business's fifty day moving average is $5.91 and its 200-day moving average is $5.45. Abrdn Emerging Markets Equity Income Fund has a one year low of $4.43 and a one year high of $6.22.

Abrdn Emerging Markets Equity Income Fund Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 23rd were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, June 23rd. This represents a $0.60 annualized dividend and a dividend yield of 9.8%.

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.

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