Raymond James Financial Inc. Invests $4.33 Million in Abrdn Emerging Markets Equity Income Fund Inc (NYSE:AEF)

Raymond James Financial Inc. purchased a new stake in shares of Abrdn Emerging Markets Equity Income Fund Inc (NYSE:AEF - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 834,145 shares of the company's stock, valued at approximately $4,329,000. Raymond James Financial Inc. owned 1.64% of Abrdn Emerging Markets Equity Income Fund as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. PNC Financial Services Group Inc. increased its stake in Abrdn Emerging Markets Equity Income Fund by 94.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 9,385 shares of the company's stock worth $49,000 after acquiring an additional 4,555 shares during the last quarter. National Bank of Canada FI raised its stake 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 purchasing an additional 14,023 shares in the last quarter. HighTower Advisors LLC bought a new stake in Abrdn Emerging Markets Equity Income Fund during the fourth quarter valued at approximately $199,000. Private Advisor Group LLC lifted its position in Abrdn Emerging Markets Equity Income Fund by 20.7% during the fourth quarter. Private Advisor Group LLC now owns 110,256 shares of the company's stock valued at $572,000 after purchasing an additional 18,935 shares during the last quarter. Finally, Wolverine Asset Management LLC increased its holdings in shares of Abrdn Emerging Markets Equity Income Fund by 13.3% in the 4th quarter. Wolverine Asset Management LLC now owns 172,882 shares of the company's stock worth $897,000 after buying an additional 20,254 shares during the last quarter. 73.93% of the stock is owned by hedge funds and other institutional investors.

Abrdn Emerging Markets Equity Income Fund Stock Performance

Shares of NYSE AEF traded up $0.02 during mid-day trading on Wednesday, reaching $5.17. 190,345 shares of the company were exchanged, compared to its average volume of 132,892. Abrdn Emerging Markets Equity Income Fund Inc has a 52 week low of $4.43 and a 52 week high of $5.84. The company's 50 day moving average price is $5.01 and its 200 day moving average price is $5.24.

Abrdn Emerging Markets Equity Income Fund Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 25th were given a dividend of $0.15 per share. The ex-dividend date was Tuesday, March 25th. This is a positive change from Abrdn Emerging Markets Equity Income Fund's previous quarterly dividend of $0.10. This represents a $0.60 annualized dividend and a dividend yield of 11.61%.

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.