Envestnet Asset Management Inc. Takes $1.46 Million Position in 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. acquired a new position in Abrdn Emerging Markets Equity Income Fund Inc (NYSE:AEF - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 293,763 shares of the company's stock, valued at approximately $1,457,000. Envestnet Asset Management Inc. owned 0.72% of Abrdn Emerging Markets Equity Income Fund as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in AEF. Guggenheim Capital LLC bought a new stake in shares of Abrdn Emerging Markets Equity Income Fund in the 4th quarter valued at approximately $57,000. Paragon Capital Management Ltd acquired a new stake in Abrdn Emerging Markets Equity Income Fund in the 1st quarter valued at $72,000. National Bank of Canada FI grew its position in Abrdn Emerging Markets Equity Income Fund by 1,402.3% in the fourth 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. Almitas Capital LLC acquired a new position in Abrdn Emerging Markets Equity Income Fund during the fourth quarter worth $137,000. Finally, Alpine Global Management LLC bought a new position in shares of Abrdn Emerging Markets Equity Income Fund during the fourth quarter valued at $182,000. 73.93% of the stock is currently owned by institutional investors.

Abrdn Emerging Markets Equity Income Fund Price Performance

Shares of Abrdn Emerging Markets Equity Income Fund stock remained flat at $6.04 during mid-day trading on Friday. 76,598 shares of the company were exchanged, compared to its average volume of 205,017. Abrdn Emerging Markets Equity Income Fund Inc has a 1-year low of $4.43 and a 1-year high of $6.22. The company has a fifty day simple moving average of $5.82 and a 200-day simple moving average of $5.40.

Abrdn Emerging Markets Equity Income Fund Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 23rd were given a dividend of $0.15 per share. 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 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.