Park Avenue Securities LLC Sells 48,669 Shares of Abrdn Emerging Markets Equity Income Fund Inc $AEF

Key Points

• Park Avenue Securities LLC has reduced its stake in Abrdn Emerging Markets Equity Income Fund Inc by 17.9%, selling 48,669 shares and holding 223,602 shares valued at approximately $1.33 million.
• Abrdn Emerging Markets Equity Income Fund announced a quarterly dividend of $0.17 per share, offering an annualized yield of 10.7%, with the payment set for September 30th.
• Other institutional investors, such as Vanguard Capital Wealth Advisors and North Ground Capital, have significantly increased their positions in the fund by 241.3% and 731.0%, respectively, during the second quarter.

Park Avenue Securities LLC trimmed its holdings in Abrdn Emerging Markets Equity Income Fund Inc (NYSE:AEF - Free Report) by 17.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 223,602 shares of the company's stock after selling 48,669 shares during the period. Park Avenue Securities LLC owned about 0.55% of Abrdn Emerging Markets Equity Income Fund worth $1,328,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. Vanguard Capital Wealth Advisors lifted its position in shares of Abrdn Emerging Markets Equity Income Fund by 241.3% during the second quarter. Vanguard Capital Wealth Advisors now owns 993,754 shares of the company's stock valued at $5,903,000 after purchasing an additional 702,576 shares in the last quarter. Quarry LP bought a new position in shares of Abrdn Emerging Markets Equity Income Fund during the first quarter valued at about $942,000. North Ground Capital lifted its position in shares of Abrdn Emerging Markets Equity Income Fund by 731.0% during the first quarter. North Ground Capital now owns 319,922 shares of the company's stock valued at $1,644,000 after purchasing an additional 281,422 shares in the last quarter. Wolverine Asset Management LLC lifted its position in shares of Abrdn Emerging Markets Equity Income Fund by 147.7% during the first quarter. Wolverine Asset Management LLC now owns 428,231 shares of the company's stock valued at $2,124,000 after purchasing an additional 255,349 shares in the last quarter. Finally, National Bank of Canada FI lifted its position in shares of Abrdn Emerging Markets Equity Income Fund by 359.6% during the first quarter. National Bank of Canada FI now owns 69,048 shares of the company's stock valued at $342,000 after purchasing an additional 54,025 shares in the last quarter. 73.93% of the stock is owned by institutional investors.

Abrdn Emerging Markets Equity Income Fund Price Performance

AEF opened at $6.33 on Friday. The company's 50-day moving average is $6.19 and its 200 day moving average is $5.64. Abrdn Emerging Markets Equity Income Fund Inc has a fifty-two week low of $4.43 and a fifty-two week high of $6.59.

Abrdn Emerging Markets Equity Income Fund Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 23rd will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 10.7%. The ex-dividend date is Tuesday, September 23rd.

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.

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