abrdn Japan Equity Fund (NYSE:JEQ) Shares Up 0.8% - Still a Buy?

Key Points

• The abrdn Japan Equity Fund (NYSE:JEQ) shares rose by 0.8%, trading at $7.89, with a significant increase in trading volume of 239% from the average.
• A special dividend of $0.6944 per share will be paid to shareholders on October 7th, with the ex-dividend date set for September 29th.
• Institutional investors and hedge funds hold 62.72% of the company's stock, indicating strong interest and confidence from major investment firms.

abrdn Japan Equity Fund Inc. (NYSE:JEQ - )'s share price was up 0.8% during trading on Tuesday . The stock traded as high as $7.90 and last traded at $7.89. Approximately 215,703 shares were traded during mid-day trading, an increase of 239% from the average daily volume of 63,608 shares. The stock had previously closed at $7.83.

abrdn Japan Equity Fund Stock Up 0.8%

The stock has a 50-day simple moving average of $8.12 and a 200 day simple moving average of $7.31.

abrdn Japan Equity Fund Announces Dividend

The firm also recently declared a special dividend, which will be paid on Tuesday, October 7th. Shareholders of record on Monday, September 29th will be paid a dividend of $0.6944 per share. The ex-dividend date is Monday, September 29th.

Hedge Funds Weigh In On abrdn Japan Equity Fund

A number of hedge funds have recently made changes to their positions in JEQ. Successful Portfolios LLC lifted its holdings 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 acquiring an additional 3,189 shares during the period. Blue Bell Private Wealth Management LLC lifted its stake 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 worth $191,000 after purchasing an additional 3,900 shares during the period. Bank of America Corp DE lifted its stake in 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 period. Lazard Asset Management LLC boosted its holdings 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 valued at $12,380,000 after purchasing an additional 22,372 shares in the last quarter. Finally, Wolverine Asset Management LLC grew its stake 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 valued at $581,000 after purchasing an additional 53,392 shares during the period. Institutional investors and hedge funds 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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