1607 Capital Partners LLC Sells 1,358,859 Shares of Abrdn Emerging Markets Equity Income Fund Inc $AEF

Key Points

• 1607 Capital Partners LLC reduced its holdings in Abrdn Emerging Markets Equity Income Fund by 41.2%, selling 1,358,859 shares, and now owns approximately 4.77% of the fund valued at $9.6 million.
• PNC Financial Services Group Inc. increased its stake in the fund by 28.1%, reflecting broader interest as institutional investors hold about 73.93% of the company's stock.
• The fund declared a quarterly dividend of $0.15 per share, amounting to a 9.8% annual yield, with an ex-dividend date of June 23rd.

1607 Capital Partners LLC decreased its position in shares of Abrdn Emerging Markets Equity Income Fund Inc (NYSE:AEF - Free Report) by 41.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,936,636 shares of the company's stock after selling 1,358,859 shares during the quarter. 1607 Capital Partners LLC owned about 4.77% of Abrdn Emerging Markets Equity Income Fund worth $9,606,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its holdings in Abrdn Emerging Markets Equity Income Fund by 28.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 12,026 shares of the company's stock worth $60,000 after purchasing an additional 2,641 shares during the last quarter. Paragon Capital Management Ltd bought a new position in Abrdn Emerging Markets Equity Income Fund during the 1st quarter worth approximately $72,000. Alpine Global Management LLC bought a new position in Abrdn Emerging Markets Equity Income Fund during the 4th quarter worth approximately $182,000. Integrated Capital Management Inc. bought a new position in Abrdn Emerging Markets Equity Income Fund during the 1st quarter worth approximately $186,000. Finally, CF Capital LLC bought a new position in Abrdn Emerging Markets Equity Income Fund during the 4th quarter worth approximately $200,000. Institutional investors own 73.93% of the company's stock.

Abrdn Emerging Markets Equity Income Fund Stock Performance

Abrdn Emerging Markets Equity Income Fund stock opened at $6.11 on Tuesday. Abrdn Emerging Markets Equity Income Fund Inc has a 52-week low of $4.43 and a 52-week high of $6.24. The firm has a 50 day moving average price of $6.03 and a two-hundred day moving average price of $5.51.

Abrdn Emerging Markets Equity Income Fund Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 23rd were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, June 23rd. This represents a $0.60 annualized dividend and a dividend yield of 9.8%.

About Abrdn Emerging Markets Equity Income Fund

Abrdn Emerging Markets Equity Income Fund Inc is a closed ended balanced mutual fund and managed by Aberdeen Asset Managers Limited. It invests in the public equity and fixed income markets of Chile. The fund seeks to invest in securities of companies operating across diversified sectors. It employs fundamental analysis with a bottom-up security selection approach to create its portfolio.

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