Saba Capital Management L.P. Raises Stock Holdings in Abrdn Japan Equity Fund Inc (NYSE:JEQ)

Saba Capital Management L.P. boosted its stake in Abrdn Japan Equity Fund Inc (NYSE:JEQ) by 0.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 687,081 shares of the company’s stock after acquiring an additional 6,394 shares during the period. Saba Capital Management L.P.’s holdings in Abrdn Japan Equity Fund were worth $3,951,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Blue Bell Private Wealth Management LLC increased its stake in Abrdn Japan Equity Fund by 40.7% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 25,526 shares of the company’s stock worth $147,000 after purchasing an additional 7,381 shares during the period. Bank of America Corp DE boosted its holdings in shares of Abrdn Japan Equity Fund by 8.0% in the fourth quarter. Bank of America Corp DE now owns 91,050 shares of the company’s stock valued at $524,000 after acquiring an additional 6,724 shares during the period. Wolverine Asset Management LLC boosted its holdings in shares of Abrdn Japan Equity Fund by 77.9% in the fourth quarter. Wolverine Asset Management LLC now owns 165,606 shares of the company’s stock valued at $952,000 after acquiring an additional 72,496 shares during the period. Finally, Matisse Capital boosted its holdings in shares of Abrdn Japan Equity Fund by 17.0% in the fourth quarter. Matisse Capital now owns 201,263 shares of the company’s stock valued at $1,157,000 after acquiring an additional 29,263 shares during the period. 62.72% of the stock is owned by institutional investors and hedge funds.

Abrdn Japan Equity Fund Price Performance

JEQ stock opened at $7.02 on Friday. The business has a 50 day simple moving average of $6.52 and a 200-day simple moving average of $6.06. Abrdn Japan Equity Fund Inc has a twelve month low of $5.27 and a twelve month high of $7.04.

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.