abrdn Japan Equity Fund Inc. (NYSE:JEQ) to Issue $0.69 Special Dividend

Key Points

• abrdn Japan Equity Fund Inc. announced a special dividend of $0.69 per share, which will be paid on October 7th to shareholders of record on September 29th, resulting in a significant dividend yield of 540.0%.
• The stock opened at $8.39, with its fifty-day moving average at $8.10 and a twelve-month high of $8.88, indicating strong trading performance.
• Institutional investors hold 62.72% of the company’s shares, with notable increases in holdings from firms such as Blue Bell Private Wealth Management and Wolverine Asset Management.

abrdn Japan Equity Fund Inc. (NYSE:JEQ - Get Free Report) announced a special dividend on Friday, September 19th. Shareholders of record on Monday, September 29th will be paid a dividend of 0.6944 per share on Tuesday, October 7th. This represents a dividend yield of 540.0%. The ex-dividend date of this dividend is Monday, September 29th.

abrdn Japan Equity Fund Stock Performance

Shares of abrdn Japan Equity Fund stock opened at $8.39 on Friday. The stock's fifty day moving average price is $8.10 and its 200-day moving average price is $7.29. abrdn Japan Equity Fund has a 12 month low of $5.58 and a 12 month high of $8.88.

Institutional Investors Weigh In On abrdn Japan Equity Fund

Several hedge funds have recently modified their holdings of JEQ. Blue Bell Private Wealth Management LLC increased its holdings in abrdn Japan Equity Fund by 15.3% during the first quarter. Blue Bell Private Wealth Management LLC now owns 29,426 shares of the company's stock valued at $191,000 after buying an additional 3,900 shares during the period. Almitas Capital LLC bought a new stake in abrdn Japan Equity Fund during the 1st quarter valued at $394,000. Tabor Asset Management LP purchased a new position in shares of abrdn Japan Equity Fund in the 1st quarter valued at $453,000. Wolverine Asset Management LLC raised its position in shares of abrdn Japan Equity Fund by 226.1% in the 2nd quarter. Wolverine Asset Management LLC now owns 77,009 shares of the company's stock worth $581,000 after acquiring an additional 53,392 shares in the last quarter. Finally, Successful Portfolios LLC lifted its stake in shares of abrdn Japan Equity Fund by 3.7% during 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 last quarter. Hedge funds and other institutional investors own 62.72% of the company's stock.

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.

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