Abrdn Emerging Markets Equity Income Fund Inc (NYSE:AEF) Holdings Reduced by City of London Investment Management Co. Ltd.

Key Points

• City of London Investment Management Co. Ltd. sold 7,205,562 shares of Abrdn Emerging Markets Equity Income Fund Inc, reducing its stake by 36.1% to 12,735,804 shares.
• The Abrdn Emerging Markets Equity Income Fund currently consists of 73.93% ownership by institutional investors and hedge funds.
• A recent dividend of $0.15 was paid to stockholders, representing an annualized amount of $0.60 with a yield of 9.9%.

City of London Investment Management Co. Ltd. trimmed its holdings in Abrdn Emerging Markets Equity Income Fund Inc (NYSE:AEF - Free Report) by 36.1% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 12,735,804 shares of the company's stock after selling 7,205,562 shares during the quarter. Abrdn Emerging Markets Equity Income Fund comprises approximately 6.8% of City of London Investment Management Co. Ltd.'s portfolio, making the stock its 4th biggest position. City of London Investment Management Co. Ltd. owned about 31.37% of Abrdn Emerging Markets Equity Income Fund worth $63,170,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AEF. PNC Financial Services Group Inc. boosted its position in shares of Abrdn Emerging Markets Equity Income Fund by 28.1% during the first quarter. PNC Financial Services Group Inc. now owns 12,026 shares of the company's stock worth $60,000 after acquiring an additional 2,641 shares during the last quarter. Guggenheim Capital LLC bought a new position in Abrdn Emerging Markets Equity Income Fund during the fourth quarter valued at $57,000. Quantedge Capital Pte Ltd boosted its stake in shares of Abrdn Emerging Markets Equity Income Fund by 21.2% during the 4th quarter. Quantedge Capital Pte Ltd now owns 63,000 shares of the company's stock worth $327,000 after purchasing an additional 11,000 shares during the period. Matisse Capital grew its stake in shares of Abrdn Emerging Markets Equity Income Fund by 10.9% during the first quarter. Matisse Capital now owns 116,975 shares of the company's stock valued at $580,000 after buying an additional 11,489 shares during the last quarter. Finally, National Bank of Canada FI boosted its holdings in Abrdn Emerging Markets Equity Income Fund by 1,402.3% during the 4th quarter. National Bank of Canada FI now owns 15,023 shares of the company's stock valued at $78,000 after acquiring an additional 14,023 shares during the period. Institutional investors own 73.93% of the company's stock.

Abrdn Emerging Markets Equity Income Fund Trading Up 0.8%

AEF stock traded up $0.05 during trading on Friday, hitting $6.10. The company had a trading volume of 67,869 shares, compared to its average volume of 203,217. Abrdn Emerging Markets Equity Income Fund Inc has a 52-week low of $4.43 and a 52-week high of $6.22. The company has a 50 day simple moving average of $5.88 and a 200-day simple moving average of $5.43.

Abrdn Emerging Markets Equity Income Fund Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 23rd were given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 9.8%. The ex-dividend date of this dividend was Monday, June 23rd.

Abrdn Emerging Markets Equity Income Fund Profile

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.