Alexander Randolph Advisory Inc. Has $497,000 Stock Position in Abrdn Emerging Markets Equity Income Fund Inc (NYSE:AEF)

Key Points

• Alexander Randolph Advisory Inc. reduced its holdings in Abrdn Emerging Markets Equity Income Fund by 30.2% in the first quarter, owning approximately $497,000 worth of shares by the end of the period.
• Several hedge funds, including Raymond James Financial Inc. and Absolute Investment Advisers LLC, have recently made significant investments in the fund, indicating strong institutional interest.
• Abrdn Emerging Markets Equity Income Fund declared a quarterly dividend of $0.15 per share, resulting in an annualized dividend of $0.60 and a yield of 9.90%.

Alexander Randolph Advisory Inc. reduced its stake in Abrdn Emerging Markets Equity Income Fund Inc (NYSE:AEF - Free Report) by 30.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 100,109 shares of the company's stock after selling 43,294 shares during the quarter. Alexander Randolph Advisory Inc. owned 0.25% of Abrdn Emerging Markets Equity Income Fund worth $497,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Readystate Asset Management LP acquired a new position in Abrdn Emerging Markets Equity Income Fund in the 1st quarter valued at about $334,000. Tabor Asset Management LP acquired a new position in shares of Abrdn Emerging Markets Equity Income Fund during the 1st quarter worth approximately $664,000. Private Advisor Group LLC grew its position in shares of Abrdn Emerging Markets Equity Income Fund by 28.8% during the 1st quarter. Private Advisor Group LLC now owns 142,044 shares of the company's stock worth $705,000 after purchasing an additional 31,788 shares in the last quarter. Envestnet Asset Management Inc. acquired a new stake in shares of Abrdn Emerging Markets Equity Income Fund during the 1st quarter worth approximately $1,457,000. Finally, Absolute Investment Advisers LLC acquired a new stake in shares of Abrdn Emerging Markets Equity Income Fund during the 1st quarter worth approximately $2,432,000. 73.93% of the stock is owned by institutional investors.

Abrdn Emerging Markets Equity Income Fund Price Performance

Shares of AEF stock traded up $0.03 during trading hours on Monday, hitting $6.07. 45,921 shares of the company's stock traded hands, compared to its average volume of 203,924. Abrdn Emerging Markets Equity Income Fund Inc has a 12 month low of $4.43 and a 12 month high of $6.22. The stock's 50 day simple moving average is $5.82 and its 200 day simple moving average is $5.41.

Abrdn Emerging Markets Equity Income Fund Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 23rd were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 9.9%. The ex-dividend date was Monday, June 23rd.

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.