Allspring Global Investments Holdings LLC lowered its stake in shares of abrdn Japan Equity Fund Inc. (NYSE:JEQ - Free Report) by 3.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,148,098 shares of the company's stock after selling 67,918 shares during the quarter. Allspring Global Investments Holdings LLC owned about 15.51% of abrdn Japan Equity Fund worth $13,967,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in JEQ. CSS LLC IL acquired a new stake in abrdn Japan Equity Fund during the fourth quarter worth $60,000. Blue Bell Private Wealth Management LLC boosted its stake in abrdn Japan Equity Fund by 40.7% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 25,526 shares of the company's stock valued at $147,000 after buying an additional 7,381 shares in the last quarter. Successful Portfolios LLC grew its holdings in shares of abrdn Japan Equity Fund by 3.7% in 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 last quarter. Bank of America Corp DE increased its position in shares of 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. Finally, Saba Capital Management L.P. raised its stake in shares of abrdn Japan Equity Fund by 0.9% in the fourth quarter. Saba Capital Management L.P. now owns 687,081 shares of the company's stock valued at $3,951,000 after acquiring an additional 6,394 shares during the last quarter. Institutional investors and hedge funds own 62.72% of the company's stock.
Insider Activity
In related news, major shareholder Saba Capital Management, L.P. acquired 52,651 shares of the firm's stock in a transaction on Wednesday, May 28th. The shares were purchased at an average price of $7.11 per share, with a total value of $374,348.61. Following the acquisition, the insider directly owned 1,508,233 shares in the company, valued at $10,723,536.63. The trade was a 3.62% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Insiders bought 60,887 shares of company stock valued at $433,198 over the last three months. Insiders own 52.11% of the company's stock.
abrdn Japan Equity Fund Stock Up 0.4%
Shares of JEQ traded up $0.03 on Friday, hitting $7.50. The company's stock had a trading volume of 9,642 shares, compared to its average volume of 65,437. The company has a 50 day moving average price of $7.12 and a 200 day moving average price of $6.40. abrdn Japan Equity Fund Inc. has a fifty-two week low of $5.27 and a fifty-two week high of $7.87.
abrdn Japan Equity Fund Company Profile
(
Free Report)
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.
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