abrdn Japan Equity Fund (NYSE:JEQ) Trading Down 0.4% - Should You Sell?

abrdn Japan Equity Fund Inc. (NYSE:JEQ - Get Free Report) fell 0.4% during mid-day trading on Wednesday . The company traded as low as $7.44 and last traded at $7.47. 19,074 shares traded 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 Up 0.4%

The company's 50 day simple moving average is $7.08 and its 200 day simple moving average is $6.37.

Insider Activity

In other abrdn Japan Equity Fund news, major shareholder Saba Capital Management, L.P. acquired 52,651 shares of the company's stock in a transaction that occurred on Wednesday, May 28th. The shares were acquired at an average price of $7.11 per share, with a total value 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 represents a 3.62% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last three months, insiders have acquired 60,887 shares of company stock valued at $433,198. 52.11% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Successful Portfolios LLC raised its position 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 period. Blue Bell Private Wealth Management LLC increased its stake in abrdn Japan Equity Fund by 15.3% during 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 in the last quarter. Saba Capital Management L.P. raised its holdings in abrdn Japan Equity Fund by 0.9% during the 4th quarter. Saba Capital Management L.P. now owns 687,081 shares of the company's stock worth $3,951,000 after buying an additional 6,394 shares during the period. Bank of America Corp DE lifted its stake in 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 bought a new position in abrdn Japan Equity Fund in the fourth quarter valued at approximately $60,000. 62.72% of the stock is owned by institutional investors and hedge funds.

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.