abrdn Japan Equity Fund Inc. (NYSE:JEQ) Sees Significant Increase in Short Interest

Key Points

• The abrdn Japan Equity Fund Inc. (NYSE:JEQ) experienced a 31.4% increase in short interest in August, with a total of 60,700 shares shorted as of August 15th.
• Several hedge funds and institutional investors have increased their holdings in the fund, with institutions owning 62.72% of the stock, indicating strong institutional interest.
• The stock price of JEQ reached $8.73 during trading, reflecting a notable movement within a 12-month range of $5.58 to $8.77.

abrdn Japan Equity Fund Inc. (NYSE:JEQ - Get Free Report) was the recipient of a significant increase in short interest in August. As of August 15th, there was short interest totaling 60,700 shares, an increase of 31.4% from the July 31st total of 46,200 shares. Based on an average trading volume of 83,100 shares, the days-to-cover ratio is currently 0.7 days. Based on an average trading volume of 83,100 shares, the days-to-cover ratio is currently 0.7 days.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Lazard Asset Management LLC raised its stake in abrdn Japan Equity Fund by 1.4% during the second quarter. Lazard Asset Management LLC now owns 1,641,947 shares of the company's stock worth $12,380,000 after acquiring an additional 22,372 shares in the last quarter. Saba Capital Management L.P. grew its holdings in shares of abrdn Japan Equity Fund by 0.9% during the fourth 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 last quarter. Bank of America Corp DE grew its holdings in shares of abrdn Japan Equity Fund by 8.0% during the fourth 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 last quarter. Successful Portfolios LLC grew its holdings in shares of abrdn Japan Equity Fund by 3.7% during the first 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 last quarter. Finally, Wolverine Asset Management LLC grew its holdings in shares of abrdn Japan Equity Fund by 226.1% during the second quarter. Wolverine Asset Management LLC now owns 77,009 shares of the company's stock worth $581,000 after purchasing an additional 53,392 shares during the last quarter. Institutional investors and hedge funds own 62.72% of the company's stock.

abrdn Japan Equity Fund Stock Up 0.3%

NYSE JEQ traded up $0.03 during trading on Friday, hitting $8.76. 31,670 shares of the company's stock were exchanged, compared to its average volume of 104,717. abrdn Japan Equity Fund has a fifty-two week low of $5.58 and a fifty-two week high of $8.78. The stock's 50 day moving average price is $7.83 and its two-hundred day moving average price is $7.11.

abrdn Japan Equity Fund Company 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.