Insider Buying: Abrdn Emerging Markets Equity Income Fund (NYSE:AEF) Director Purchases 2,000 Shares of Company Stock

Key Points

• Director Anthony Clark purchased 2,000 AEF shares at an average price of $9.73, investing $19,460 and increasing his direct ownership by 33.33% to 8,000 shares.
• AEF shares fell 0.8% to $9.66, while trading volume remained below average. The stock has ranged between $6.26 and $10.14 over the past year.
• The fund raised its quarterly dividend to $0.26 per share, implying a $1.04 annualized payout and a 10.8% yield; institutional investors own 73.93% of the shares.

Abrdn Emerging Markets Equity Income Fund Inc (NYSE:AEF - Get Free Report) Director Anthony Clark purchased 2,000 shares of Abrdn Emerging Markets Equity Income Fund stock in a transaction dated Monday, October 5th. The stock was bought at an average cost of $9.73 per share, with a total value of $19,460.00. Following the completion of the transaction, the director directly owned 8,000 shares of the company's stock, valued at $77,840. This represents a 33.33% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Abrdn Emerging Markets Equity Income Fund Stock Down 0.8%

Abrdn Emerging Markets Equity Income Fund stock traded down $0.08 during trading hours on Tuesday, hitting $9.66. The company had a trading volume of 34,763 shares, compared to its average volume of 162,300. Abrdn Emerging Markets Equity Income Fund Inc has a fifty-two week low of $6.26 and a fifty-two week high of $10.14. The firm's fifty day moving average is $9.42 and its 200-day moving average is $9.10.

Abrdn Emerging Markets Equity Income Fund Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 22nd were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 10.8%. The ex-dividend date of this dividend was Tuesday, September 22nd. This is a positive change from Abrdn Emerging Markets Equity Income Fund's previous quarterly dividend of $0.23.

Institutional Trading of Abrdn Emerging Markets Equity Income Fund

A number of hedge funds have recently bought and sold shares of the stock. Uhlmann Price Securities LLC raised its position in shares of Abrdn Emerging Markets Equity Income Fund by 5.5% during the 1st quarter. Uhlmann Price Securities LLC now owns 40,859 shares of the company's stock valued at $298,000 after acquiring an additional 2,129 shares during the last quarter. Evolve Private Wealth LLC lifted its stake in Abrdn Emerging Markets Equity Income Fund by 3.2% in the first quarter. Evolve Private Wealth LLC now owns 112,511 shares of the company's stock valued at $820,000 after buying an additional 3,468 shares in the last quarter. Noble Wealth Management PBC acquired a new position in Abrdn Emerging Markets Equity Income Fund in the 2nd quarter worth $34,000. Bard Associates Inc. bought a new position in shares of Abrdn Emerging Markets Equity Income Fund during the fourth quarter worth about $57,000. Finally, Private Advisor Group LLC boosted its holdings in Abrdn Emerging Markets Equity Income Fund by 7.4% during the first quarter. Private Advisor Group LLC now owns 191,749 shares of the company's stock worth $1,398,000 after purchasing an additional 13,205 shares during the last quarter. 73.93% of the stock is owned by institutional investors.

About Abrdn Emerging Markets Equity Income Fund

abrdn Emerging Markets Equity Income Fund, Inc NYSE: AEF is a closed-end investment company that seeks to provide investors with a high level of current income and long-term capital appreciation. The fund invests primarily in equity securities of companies located in, or deriving a significant portion of their business from, emerging-market countries.

The portfolio generally emphasizes dividend-paying stocks across a range of industries and emerging-market economies. Its investments may include common stocks and other equity-related securities, providing exposure to companies in regions such as Asia, Latin America, Eastern Europe, the Middle East and Africa, although the fund's geographic allocation may change over time.

The fund is managed by abrdn, a global investment management firm.

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