Allspring Global Investments Holdings LLC Cuts Position in Abrdn Emerging Markets Equity Income Fund Inc $AEF

Key Points

• Allspring Global Investments cut its stake in Abrdn Emerging Markets Equity Income Fund by 5.5% in Q1, selling 155,022 shares and ending with 2,685,723 shares worth about $19.6 million.
• Other institutional investors also shifted positions in the fund, with some adding significantly; overall, hedge funds and institutions own 73.93% of the stock.
• The fund recently raised its quarterly dividend to $0.23 per share from $0.21, implying an annualized dividend of $0.92 and a yield of 10.3%.

Allspring Global Investments Holdings LLC decreased its position in shares of Abrdn Emerging Markets Equity Income Fund Inc (NYSE:AEF - Free Report) by 5.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,685,723 shares of the company's stock after selling 155,022 shares during the period. Allspring Global Investments Holdings LLC owned approximately 6.61% of Abrdn Emerging Markets Equity Income Fund worth $19,579,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Evolve Private Wealth LLC bought a new stake in shares of Abrdn Emerging Markets Equity Income Fund in the 4th quarter worth approximately $783,000. LPL Financial LLC grew its holdings in shares of Abrdn Emerging Markets Equity Income Fund by 312.7% during the 4th quarter. LPL Financial LLC now owns 143,509 shares of the company's stock valued at $1,005,000 after purchasing an additional 108,738 shares during the last quarter. Guggenheim Capital LLC grew its stake in shares of Abrdn Emerging Markets Equity Income Fund by 105.1% during the fourth quarter. Guggenheim Capital LLC now owns 171,690 shares of the company's stock valued at $1,202,000 after buying an additional 87,965 shares during the last quarter. Closed End Fund Advisors Inc. bought a new position in shares of Abrdn Emerging Markets Equity Income Fund during the fourth quarter valued at about $541,000. Finally, Invesco Ltd. purchased a new position in shares of Abrdn Emerging Markets Equity Income Fund in the fourth quarter worth about $274,000. Hedge funds and other institutional investors own 73.93% of the company's stock.

Abrdn Emerging Markets Equity Income Fund Price Performance

NYSE AEF opened at $8.89 on Wednesday. Abrdn Emerging Markets Equity Income Fund Inc has a 1-year low of $5.95 and a 1-year high of $10.14. The stock has a 50-day moving average of $9.39 and a 200-day moving average of $8.54.

Abrdn Emerging Markets Equity Income Fund Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 23rd were paid a $0.23 dividend. This is an increase from Abrdn Emerging Markets Equity Income Fund's previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Tuesday, June 23rd. This represents a $0.92 dividend on an annualized basis and a yield of 10.3%.

Abrdn Emerging Markets Equity Income Fund 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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