Allspring Global Investments Holdings LLC Cuts Position in abrdn Japan Equity Fund Inc. (NYSE:JEQ)

Allspring Global Investments Holdings LLC cut its holdings in abrdn Japan Equity Fund Inc. (NYSE:JEQ - Free Report) by 3.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,148,098 shares of the company's stock after selling 67,918 shares during the period. Allspring Global Investments Holdings LLC owned 15.51% of abrdn Japan Equity Fund worth $13,967,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in JEQ. CSS LLC IL purchased a new position in abrdn Japan Equity Fund in the 4th quarter valued at approximately $60,000. Blue Bell Private Wealth Management LLC boosted its holdings in abrdn Japan Equity Fund by 40.7% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 25,526 shares of the company's stock valued at $147,000 after purchasing an additional 7,381 shares during the period. Bank of America Corp DE grew its stake in abrdn Japan Equity Fund by 8.0% during the 4th quarter. Bank of America Corp DE now owns 91,050 shares of the company's stock worth $524,000 after purchasing an additional 6,724 shares in the last quarter. Successful Portfolios LLC increased its holdings in abrdn Japan Equity Fund by 3.7% during the 1st quarter. Successful Portfolios LLC now owns 88,467 shares of the company's stock worth $575,000 after purchasing an additional 3,189 shares during the period. Finally, Saba Capital Management L.P. increased its holdings in abrdn Japan Equity Fund by 0.9% during the 4th quarter. Saba Capital Management L.P. now owns 687,081 shares of the company's stock worth $3,951,000 after purchasing an additional 6,394 shares during the period. 62.72% of the stock is currently owned by hedge funds and other institutional investors.

abrdn Japan Equity Fund Stock Up 0.4%

NYSE:JEQ traded up $0.03 during mid-day trading on Friday, hitting $7.50. The stock had a trading volume of 9,642 shares, compared to its average volume of 65,294. abrdn Japan Equity Fund Inc. has a twelve month low of $5.27 and a twelve month high of $7.87. The stock has a 50-day simple moving average of $7.10 and a two-hundred day simple moving average of $6.38.

Insider Transactions at abrdn Japan Equity Fund

In other news, major shareholder Saba Capital Management, L.P. purchased 52,651 shares of the business's stock in a transaction on Wednesday, May 28th. The shares were bought at an average price of $7.11 per share, with a total value of $374,348.61. Following the completion of the transaction, the insider directly owned 1,508,233 shares in the company, valued at approximately $10,723,536.63. This represents a 3.62% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders purchased 60,887 shares of company stock valued at $433,198 over the last three months. Corporate insiders own 52.11% of the company's stock.

abrdn Japan Equity Fund Profile

Abrdn Japan Equity Fund Inc is a close ended equity mutual fund launched and managed by Aberdeen Standard Investments (Asia) Limited. It invests in the public equity markets of Japan. The fund invests in stocks of companies operating across diversified sectors. It employs quantitative analysis to build its portfolio.