abrdn Japan Equity Fund Inc. (NYSE:JEQ - Get Free Report) shares fell 0.4% during trading on Wednesday . The stock traded as low as $7.44 and last traded at $7.47. 19,074 shares changed hands during trading, a decline of 71% from the average session volume of 65,317 shares. The stock had previously closed at $7.50.
abrdn Japan Equity Fund Stock Performance
The firm has a 50-day simple moving average of $7.12 and a 200 day simple moving average of $6.40.
Insider Buying and Selling at abrdn Japan Equity Fund
In related news, major shareholder Saba Capital Management, L.P. bought 52,651 shares of the stock in a transaction on Wednesday, May 28th. The shares were bought at an average cost of $7.11 per share, for a total transaction of $374,348.61. Following the purchase, the insider owned 1,508,233 shares of the company's stock, valued at $10,723,536.63. This trade represents a 3.62% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last quarter, insiders purchased 60,887 shares of company stock valued at $433,198. Company insiders own 52.11% of the company's stock.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently modified their holdings of the stock. Successful Portfolios LLC boosted its stake in shares of abrdn Japan Equity Fund by 3.7% in the first quarter. Successful Portfolios LLC now owns 88,467 shares of the company's stock valued at $575,000 after buying an additional 3,189 shares in the last quarter. Blue Bell Private Wealth Management LLC boosted its stake in shares of abrdn Japan Equity Fund by 15.3% in 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 in the last quarter. Saba Capital Management L.P. boosted its stake in shares of abrdn Japan Equity Fund by 0.9% in the fourth quarter. Saba Capital Management L.P. now owns 687,081 shares of the company's stock valued at $3,951,000 after buying an additional 6,394 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of abrdn Japan Equity Fund by 8.0% in the fourth quarter. Bank of America Corp DE now owns 91,050 shares of the company's stock valued at $524,000 after buying an additional 6,724 shares in the last quarter. Finally, CSS LLC IL purchased a new stake in shares of abrdn Japan Equity Fund in the fourth quarter valued at approximately $60,000. 62.72% of the stock is currently owned by hedge funds and other institutional investors.
abrdn Japan Equity Fund Company Profile
(
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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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