Abrdn Emerging Markets Equity Income Fund Inc $AEF is City of London Investment Management Co. Ltd.'s 4th Largest Position

Key Points

• City of London Investment Management trimmed its stake in Abrdn Emerging Markets Equity Income Fund (NYSE:AEF) by 1.5% in Q3, selling 183,832 shares to hold 11,991,972 shares — about 5.7% of its portfolio and AEF's 4th-largest position, valued at roughly $77.7M.
• AEF increased its quarterly dividend to $0.21 (from $0.18), implying a $0.84 annualized payout and an approximately 11.3% yield; the fund's shares have traded between $4.43 and $8.93 over the past 12 months with 50-day/200-day averages of $7.93/$7.10.

City of London Investment Management Co. Ltd. lessened its stake in Abrdn Emerging Markets Equity Income Fund Inc (NYSE:AEF - Free Report) by 1.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,991,972 shares of the company's stock after selling 183,832 shares during the quarter. Abrdn Emerging Markets Equity Income Fund comprises about 5.7% of City of London Investment Management Co. Ltd.'s holdings, making the stock its 4th largest holding. City of London Investment Management Co. Ltd. owned 29.54% of Abrdn Emerging Markets Equity Income Fund worth $77,708,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Creative Planning purchased a new stake in Abrdn Emerging Markets Equity Income Fund in the 2nd quarter valued at $70,000. Quantedge Capital Pte Ltd raised its holdings in shares of Abrdn Emerging Markets Equity Income Fund by 6.7% during the 2nd quarter. Quantedge Capital Pte Ltd now owns 60,700 shares of the company's stock worth $361,000 after acquiring an additional 3,800 shares during the period. Bank of America Corp DE raised its holdings in shares of Abrdn Emerging Markets Equity Income Fund by 2.2% during the 2nd quarter. Bank of America Corp DE now owns 85,987 shares of the company's stock worth $511,000 after acquiring an additional 1,824 shares during the period. Shaker Financial Services LLC boosted its position in shares of Abrdn Emerging Markets Equity Income Fund by 17.2% during the 3rd quarter. Shaker Financial Services LLC now owns 94,331 shares of the company's stock valued at $611,000 after acquiring an additional 13,829 shares during the last quarter. Finally, TrueMark Investments LLC acquired a new position in shares of Abrdn Emerging Markets Equity Income Fund during the 3rd quarter valued at about $613,000. Hedge funds and other institutional investors own 73.93% of the company's stock.

Abrdn Emerging Markets Equity Income Fund Price Performance

Shares of AEF opened at $7.41 on Friday. Abrdn Emerging Markets Equity Income Fund Inc has a 12-month low of $4.43 and a 12-month high of $8.93. The firm has a 50-day moving average price of $7.93 and a 200 day moving average price of $7.10.

Abrdn Emerging Markets Equity Income Fund Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 24th will be paid a $0.21 dividend. This is a positive change from Abrdn Emerging Markets Equity Income Fund's previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Tuesday, March 24th. This represents a $0.84 annualized dividend and a dividend yield of 11.3%.

Abrdn Emerging Markets Equity Income Fund Company Profile

Abrdn Emerging Markets Equity Income Fund NYSE: AEF is a closed‐end investment company that seeks to provide investors with a combination of current income and long-term capital appreciation by investing primarily in dividend-paying equities of companies located in emerging market countries. The fund offers investors access to a diversified portfolio of stocks across Asia, Latin America, Eastern Europe, the Middle East and Africa, targeting firms with strong cash flow characteristics and sustainable payout policies.

The investment process combines bottom-up fundamental research with a disciplined focus on income generation.

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