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

Key Points

• Allspring Global Investments Holdings LLC cut its stake in Abrdn Emerging Markets Equity Income Fund (NYSE:AEF) by 9.0% in Q4, selling 279,702 shares and finishing with 2,840,745 shares — about a 7.00% ownership worth roughly $19.9 million.
• Abrdn raised its quarterly dividend to $0.21 per share (from $0.18), equal to a $0.84 annualized payout and a 11.4% yield.
• Hedge funds and other institutional investors own about 73.93% of AEF; the fund's 52-week range is $4.43–$8.93 with the recent price near $7.38 (50-day SMA $7.92, 200-day SMA $7.22).

Allspring Global Investments Holdings LLC reduced its stake in Abrdn Emerging Markets Equity Income Fund Inc (NYSE:AEF - Free Report) by 9.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,840,745 shares of the company's stock after selling 279,702 shares during the period. Allspring Global Investments Holdings LLC owned approximately 7.00% of Abrdn Emerging Markets Equity Income Fund worth $19,885,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Creative Planning acquired a new stake in shares of Abrdn Emerging Markets Equity Income Fund in the second quarter valued at about $70,000. Quantedge Capital Pte Ltd boosted its holdings in Abrdn Emerging Markets Equity Income Fund by 6.7% in 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 boosted its holdings in Abrdn Emerging Markets Equity Income Fund by 2.2% in 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 grew its position in Abrdn Emerging Markets Equity Income Fund by 17.2% in the third 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 in the last quarter. Finally, TrueMark Investments LLC acquired a new stake in Abrdn Emerging Markets Equity Income Fund in the third quarter valued at approximately $613,000. 73.93% of the stock is owned by hedge funds and other institutional investors.

Abrdn Emerging Markets Equity Income Fund Price Performance

NYSE AEF opened at $7.38 on Friday. The company's fifty day simple moving average is $7.92 and its 200-day simple moving average is $7.22. Abrdn Emerging Markets Equity Income Fund Inc has a 52 week low of $4.43 and a 52 week high of $8.93.

Abrdn Emerging Markets Equity Income Fund Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 24th were paid a dividend of $0.21 per share. 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 was Tuesday, March 24th. This represents a $0.84 annualized dividend and a yield of 11.4%.

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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