North Ground Capital Purchases 281,422 Shares of Abrdn Emerging Markets Equity Income Fund Inc $AEF

Key Points

• North Ground Capital significantly increased its holdings in Abrdn Emerging Markets Equity Income Fund Inc by 731% during the first quarter, now owning 319,922 shares valued at approximately $1.64 million.
• The company announced a quarterly dividend of $0.15, resulting in an annualized dividend of $0.60 and a yield of 9.8%.
• Abrdn Emerging Markets Equity Income Fund's shares recently traded at $6.14, with a twelve-month price range between $4.43 and $6.22.

North Ground Capital lifted its position in shares of Abrdn Emerging Markets Equity Income Fund Inc (NYSE:AEF - Free Report) by 731.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 319,922 shares of the company's stock after purchasing an additional 281,422 shares during the period. Abrdn Emerging Markets Equity Income Fund accounts for approximately 1.6% of North Ground Capital's portfolio, making the stock its 19th largest position. North Ground Capital owned 0.79% of Abrdn Emerging Markets Equity Income Fund worth $1,644,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of AEF. Guggenheim Capital LLC purchased a new stake in shares of Abrdn Emerging Markets Equity Income Fund during the fourth quarter worth about $57,000. PNC Financial Services Group Inc. lifted its holdings in Abrdn Emerging Markets Equity Income Fund by 28.1% in the first quarter. PNC Financial Services Group Inc. now owns 12,026 shares of the company's stock worth $60,000 after buying an additional 2,641 shares during the period. Paragon Capital Management Ltd purchased a new stake in Abrdn Emerging Markets Equity Income Fund in the first quarter worth about $72,000. Almitas Capital LLC purchased a new stake in Abrdn Emerging Markets Equity Income Fund in the fourth quarter worth about $137,000. Finally, Alpine Global Management LLC purchased a new stake in Abrdn Emerging Markets Equity Income Fund in the fourth quarter worth about $182,000. 73.93% of the stock is currently owned by hedge funds and other institutional investors.

Abrdn Emerging Markets Equity Income Fund Stock Performance

AEF traded down $0.08 on Friday, hitting $6.11. The company had a trading volume of 115,532 shares, compared to its average volume of 193,294. Abrdn Emerging Markets Equity Income Fund Inc has a 52-week low of $4.43 and a 52-week high of $6.24. The stock has a fifty day simple moving average of $6.02 and a 200-day simple moving average of $5.51.

Abrdn Emerging Markets Equity Income Fund Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors 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%.

Abrdn Emerging Markets Equity Income Fund Profile

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.