Abrdn Japan Equity Fund Inc (NYSE:JEQ - Get Free Report) saw a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 7,900 shares, a growth of 558.3% from the March 15th total of 1,200 shares. Based on an average daily volume of 34,200 shares, the days-to-cover ratio is currently 0.2 days.
Institutional Investors Weigh In On Abrdn Japan Equity Fund
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Baird Financial Group Inc. lifted its stake in Abrdn Japan Equity Fund by 3.4% during the fourth quarter. Baird Financial Group Inc. now owns 113,106 shares of the company's stock worth $649,000 after purchasing an additional 3,686 shares during the last quarter. Matisse Capital acquired a new stake in Abrdn Japan Equity Fund during the 4th quarter worth about $332,000. Wolverine Asset Management LLC grew its holdings in Abrdn Japan Equity Fund by 239.1% during the 4th quarter. Wolverine Asset Management LLC now owns 34,383 shares of the company's stock worth $197,000 after acquiring an additional 24,244 shares during the period. Successful Portfolios LLC acquired a new stake in Abrdn Japan Equity Fund during the 4th quarter worth about $458,000. Finally, Lazard Asset Management LLC grew its holdings in Abrdn Japan Equity Fund by 0.7% during the 2nd quarter. Lazard Asset Management LLC now owns 1,497,284 shares of the company's stock worth $9,088,000 after acquiring an additional 9,859 shares during the period. 62.72% of the stock is currently owned by institutional investors.
Abrdn Japan Equity Fund Trading Down 2.0 %
Shares of JEQ stock traded down $0.12 during trading on Wednesday, hitting $6.02. The company had a trading volume of 46,769 shares, compared to its average volume of 33,321. The stock's 50-day moving average price is $6.13 and its 200 day moving average price is $5.71. Abrdn Japan Equity Fund has a one year low of $4.99 and a one year high of $6.39.
Abrdn Japan Equity Fund Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, February 22nd were paid a $0.11 dividend. This is a boost from Abrdn Japan Equity Fund's previous quarterly dividend of $0.10. This represents a $0.44 annualized dividend and a dividend yield of 7.31%. The ex-dividend date of this dividend was Wednesday, February 21st.
About Abrdn Japan Equity Fund
(
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Abrdn Japan Equity Fund Inc is a close ended equity mutual fund launched and managed by Aberdeen Standard Investments (Asia) Limited. It invests in the public equity markets of Japan. The fund invests in stocks of companies operating across diversified sectors. It employs quantitative analysis to build its portfolio.
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