Envestnet Asset Management Inc. Acquires Shares of 293,763 Abrdn Emerging Markets Equity Income Fund Inc (NYSE:AEF)

Key Points

• Envestnet Asset Management Inc. acquired 293,763 shares of Abrdn Emerging Markets Equity Income Fund Inc, worth approximately $1.46 million, representing 0.72% of the fund.
• The Abrdn Emerging Markets Equity Income Fund recently announced a quarterly dividend of $0.15 per share, yielding 9.9% annually.
• Institutional investors control 73.93% of the company's stock, indicating significant investor interest in the fund.

Envestnet Asset Management Inc. bought a new position in shares of Abrdn Emerging Markets Equity Income Fund Inc (NYSE:AEF - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 293,763 shares of the company's stock, valued at approximately $1,457,000. Envestnet Asset Management Inc. owned approximately 0.72% of Abrdn Emerging Markets Equity Income Fund as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Raymond James Financial Inc. purchased a new position in Abrdn Emerging Markets Equity Income Fund in the 4th quarter valued at about $4,329,000. Absolute Investment Advisers LLC purchased a new position in Abrdn Emerging Markets Equity Income Fund in the 1st quarter valued at about $2,432,000. Uncommon Cents Investing LLC lifted its stake in Abrdn Emerging Markets Equity Income Fund by 10.8% in the 1st quarter. Uncommon Cents Investing LLC now owns 318,381 shares of the company's stock valued at $1,579,000 after buying an additional 31,070 shares in the last quarter. Vanguard Capital Wealth Advisors purchased a new position in Abrdn Emerging Markets Equity Income Fund in the 1st quarter valued at about $1,444,000. Finally, Park Avenue Securities LLC acquired a new stake in Abrdn Emerging Markets Equity Income Fund in the 1st quarter valued at about $1,350,000. 73.93% of the stock is owned by hedge funds and other institutional investors.

Abrdn Emerging Markets Equity Income Fund Stock Up 0.4%

AEF stock traded up $0.03 during mid-day trading on Monday, reaching $6.07. The company's stock had a trading volume of 42,275 shares, compared to its average volume of 203,899. Abrdn Emerging Markets Equity Income Fund Inc has a fifty-two week low of $4.43 and a fifty-two week high of $6.22. The company's 50 day moving average is $5.82 and its two-hundred day moving average is $5.41.

Abrdn Emerging Markets Equity Income Fund Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 23rd were issued a $0.15 dividend. The ex-dividend date was Monday, June 23rd. This represents a $0.60 dividend on an annualized basis and a yield of 9.9%.

Abrdn Emerging Markets Equity Income Fund Company 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.