Insider Buying: Abrdn Japan Equity Fund Inc (NYSE:JEQ) Major Shareholder Purchases 52,651 Shares of Stock

Abrdn Japan Equity Fund Inc (NYSE:JEQ - Get Free Report) major shareholder Saba Capital Management, L.P. bought 52,651 shares of the firm's stock in a transaction that occurred on Wednesday, May 28th. The shares were acquired at an average cost of $7.11 per share, for a total transaction of $374,348.61. Following the completion of the acquisition, the insider now directly owns 1,508,233 shares in the company, valued at $10,723,536.63. The trade was a 3.62% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• On Thursday, May 29th, Saba Capital Management, L.P. bought 7,596 shares of Abrdn Japan Equity Fund stock. The stock was bought at an average price of $7.14 per share, for a total transaction of $54,235.44.

Abrdn Japan Equity Fund Price Performance

Shares of Abrdn Japan Equity Fund stock traded up $0.02 on Friday, reaching $7.17. 15,594 shares of the company's stock were exchanged, compared to its average volume of 66,034. Abrdn Japan Equity Fund Inc has a 52 week low of $5.27 and a 52 week high of $7.21. The firm's 50-day moving average is $6.61 and its two-hundred day moving average is $6.14.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Successful Portfolios LLC boosted its stake in Abrdn Japan Equity Fund by 3.7% in the 1st quarter. Successful Portfolios LLC now owns 88,467 shares of the company's stock worth $575,000 after purchasing an additional 3,189 shares during the period. Blue Bell Private Wealth Management LLC boosted its stake in Abrdn Japan Equity Fund by 15.3% in the 1st quarter. Blue Bell Private Wealth Management LLC now owns 29,426 shares of the company's stock worth $191,000 after purchasing an additional 3,900 shares during the period. Saba Capital Management L.P. boosted its stake in Abrdn Japan Equity Fund by 0.9% in the 4th quarter. Saba Capital Management L.P. now owns 687,081 shares of the company's stock worth $3,951,000 after purchasing an additional 6,394 shares during the period. Bank of America Corp DE boosted its stake in Abrdn Japan Equity Fund by 8.0% in the 4th quarter. Bank of America Corp DE now owns 91,050 shares of the company's stock worth $524,000 after purchasing an additional 6,724 shares during the period. Finally, CSS LLC IL bought a new position in Abrdn Japan Equity Fund in the 4th quarter worth about $60,000. Institutional investors own 62.72% of the company's stock.

About Abrdn Japan Equity Fund

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.