Abrdn Japan Equity Fund (NYSE:JEQ) Stock Price Down 0.8% – Here’s Why

Abrdn Japan Equity Fund Inc (NYSE:JEQ)’s stock price dropped 0.8% on Wednesday . The stock traded as low as $5.76 and last traded at $5.81. Approximately 13,272 shares traded hands during mid-day trading, a decline of 58% from the average daily volume of 31,471 shares. The stock had previously closed at $5.85.

Abrdn Japan Equity Fund Price Performance

The firm has a 50-day moving average price of $5.78 and a 200-day moving average price of $5.92.

Abrdn Japan Equity Fund Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Thursday, November 21st were given a $0.12 dividend. The ex-dividend date was Thursday, November 21st. This represents a $0.48 dividend on an annualized basis and a dividend yield of 8.27%.

Institutional Investors Weigh In On Abrdn Japan Equity Fund

Several institutional investors and hedge funds have recently made changes to their positions in JEQ. Matisse Capital raised its stake in Abrdn Japan Equity Fund by 17.0% during the 4th quarter. Matisse Capital now owns 201,263 shares of the company’s stock valued at $1,157,000 after buying an additional 29,263 shares during the last quarter. Kovitz Investment Group Partners LLC bought a new stake in Abrdn Japan Equity Fund during the third quarter valued at approximately $65,000. Landscape Capital Management L.L.C. increased its holdings in Abrdn Japan Equity Fund by 84.5% during the third quarter. Landscape Capital Management L.L.C. now owns 98,148 shares of the company’s stock valued at $613,000 after buying an additional 44,964 shares during the last quarter. Shaker Financial Services LLC raised its position in Abrdn Japan Equity Fund by 25.4% in the third quarter. Shaker Financial Services LLC now owns 85,799 shares of the company’s stock worth $536,000 after acquiring an additional 17,400 shares during the period. Finally, Successful Portfolios LLC boosted its stake in shares of Abrdn Japan Equity Fund by 4.0% during the 3rd quarter. Successful Portfolios LLC now owns 85,674 shares of the company’s stock worth $535,000 after acquiring an additional 3,271 shares during the last quarter. Institutional investors own 62.72% of the company’s stock.

Abrdn Japan Equity Fund Company Profile

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.