Insider Buying: Abrdn Emerging Markets Equity Income Fund (NYSE:AEF) Director Buys $43,335.00 in Stock

Key Points

• Director insider buying: Anthony Clark purchased 4,500 AEF shares for $43,335, increasing his holdings by 300% to 6,000 shares.
• Dividend increased: The fund raised its quarterly dividend from $0.23 to $0.26 per share, equivalent to $1.04 annually and a 10.7% yield.
• Stock performance and ownership: AEF rose 1.1% to $9.69, while institutional investors owned 73.93% of the fund’s shares.

Abrdn Emerging Markets Equity Income Fund Inc (NYSE:AEF - Get Free Report) Director Anthony Clark bought 4,500 shares of the business's stock in a transaction dated Thursday, September 24th. The stock was bought at an average price of $9.63 per share, for a total transaction of $43,335.00. Following the purchase, the director owned 6,000 shares in the company, valued at approximately $57,780. This represents a 300.00% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Abrdn Emerging Markets Equity Income Fund Trading Up 1.1%

NYSE AEF traded up $0.10 on Friday, hitting $9.69. 27,638 shares of the stock traded hands, compared to its average volume of 164,133. The stock has a 50-day moving average of $9.31 and a 200 day moving average of $9.01. Abrdn Emerging Markets Equity Income Fund Inc has a twelve month low of $6.26 and a twelve month high of $10.14.

Abrdn Emerging Markets Equity Income Fund Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 22nd will be issued a $0.26 dividend. This is a boost from Abrdn Emerging Markets Equity Income Fund's previous quarterly dividend of $0.23. This represents a $1.04 dividend on an annualized basis and a yield of 10.7%. The ex-dividend date of this dividend is Tuesday, September 22nd.

Institutional Investors Weigh In On Abrdn Emerging Markets Equity Income Fund

A number of institutional investors have recently modified their holdings of the business. Noble Wealth Management PBC acquired a new position in Abrdn Emerging Markets Equity Income Fund in the second quarter valued at approximately $34,000. Readystate Asset Management LP acquired a new stake in Abrdn Emerging Markets Equity Income Fund in the first quarter worth $203,000. Private Advisor Group LLC lifted its stake in Abrdn Emerging Markets Equity Income Fund by 7.4% in the first quarter. Private Advisor Group LLC now owns 191,749 shares of the company's stock valued at $1,398,000 after buying an additional 13,205 shares during the last quarter. Evolve Private Wealth LLC grew its position in shares of Abrdn Emerging Markets Equity Income Fund by 3.2% during the first quarter. Evolve Private Wealth LLC now owns 112,511 shares of the company's stock worth $820,000 after acquiring an additional 3,468 shares during the last quarter. Finally, Uhlmann Price Securities LLC increased its holdings in shares of Abrdn Emerging Markets Equity Income Fund by 5.5% in the 1st quarter. Uhlmann Price Securities LLC now owns 40,859 shares of the company's stock worth $298,000 after acquiring an additional 2,129 shares during the period. Institutional investors own 73.93% of the company's stock.

Abrdn Emerging Markets Equity Income Fund Company Profile

Abrdn Emerging Markets Equity Income Fund, Inc NYSE: AEF is a closed-end investment company that seeks to provide investors with current income and long-term growth of capital. The fund invests primarily in dividend-paying equity securities issued by companies in emerging-market countries.

Its portfolio may include common stocks and other equity-related securities, including depositary receipts, across a range of industries and emerging-market economies. The fund's geographic exposure can include markets in Asia, Latin America, Europe, the Middle East and Africa, with allocations determined by the investment manager's assessment of income potential, valuation and long-term growth prospects.

The fund was formerly known as Aberdeen Emerging Markets Equity Income Fund, Inc and adopted its current abrdn name as part of the broader rebranding of Aberdeen Asset Management's investment business.

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