Abrdn Japan Equity Fund Inc (NYSE:JEQ - Get Free Report) major shareholder Saba Capital Management, L.P. acquired 7,596 shares of the business's stock in a transaction on Thursday, May 29th. The stock was acquired at an average price of $7.14 per share, with a total value of $54,235.44. Following the acquisition, the insider now owns 1,515,829 shares in the company, valued at $10,823,019.06. The trade was a 0.50% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Major shareholders that own at least 10% of a company's stock are required to disclose their sales and purchases with the SEC.
Saba Capital Management, L.P. also recently made the following trade(s):
- On Wednesday, May 28th, Saba Capital Management, L.P. bought 52,651 shares of Abrdn Japan Equity Fund stock. The shares were bought at an average cost of $7.11 per share, with a total value of $374,348.61.
Abrdn Japan Equity Fund Trading Up 1.3%
Abrdn Japan Equity Fund stock traded up $0.10 during midday trading on Monday, hitting $7.27. 43,006 shares of the company's stock were exchanged, compared to its average volume of 65,864. The firm's 50 day simple moving average is $6.61 and its 200 day simple moving average is $6.15. Abrdn Japan Equity Fund Inc has a 12-month low of $5.27 and a 12-month high of $7.29.
Hedge Funds Weigh In On Abrdn Japan Equity Fund
Several large investors have recently added to or reduced their stakes in JEQ. Wolverine Asset Management LLC increased its position 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 acquiring an additional 72,496 shares during the last quarter. Tabor Asset Management LP bought a new stake in Abrdn Japan Equity Fund in the 1st quarter valued at about $453,000. Almitas Capital LLC bought a new stake in Abrdn Japan Equity Fund during the 1st quarter valued at $394,000. Matisse Capital lifted its holdings in Abrdn Japan Equity Fund by 17.0% in the fourth quarter. Matisse Capital now owns 201,263 shares of the company's stock worth $1,157,000 after purchasing an additional 29,263 shares during the period. Finally, CSS LLC IL bought a new stake in Abrdn Japan Equity Fund during the fourth quarter worth approximately $60,000. 62.72% of the stock is currently owned by hedge funds and other institutional investors.
About Abrdn Japan Equity Fund
(
Get Free Report)
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.
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