Abrdn Emerging Markets Equity Income Fund (NYSE:AEF) Shares Up 0.8% – Should You Buy?

Abrdn Emerging Markets Equity Income Fund Inc (NYSE:AEF) rose 0.8% during mid-day trading on Thursday . The stock traded as high as $9.40 and last traded at $9.28. 228,370 shares traded hands during mid-day trading, an increase of 18% from the average session volume of 192,771 shares. The stock had previously closed at $9.21.

Abrdn Emerging Markets Equity Income Fund Price Performance

The stock has a 50 day moving average of $9.50 and a 200-day moving average of $8.43.

Abrdn Emerging Markets Equity Income Fund Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 23rd were issued a $0.23 dividend. This is a boost from Abrdn Emerging Markets Equity Income Fund’s previous quarterly dividend of $0.21. This represents a $0.92 dividend on an annualized basis and a dividend yield of 9.9%. The ex-dividend date of this dividend was Tuesday, June 23rd.

Institutional Investors Weigh In On Abrdn Emerging Markets Equity Income Fund

A number of large investors have recently bought and sold shares of the company. Noble Wealth Management PBC acquired a new position in Abrdn Emerging Markets Equity Income Fund in the 2nd quarter worth approximately $34,000. Bard Associates Inc. acquired a new stake in Abrdn Emerging Markets Equity Income Fund during the 4th quarter valued at approximately $57,000. Creative Planning acquired a new stake in Abrdn Emerging Markets Equity Income Fund during the 2nd quarter valued at approximately $70,000. Royal Bank of Canada boosted its holdings in shares of Abrdn Emerging Markets Equity Income Fund by 24.5% in the 4th quarter. Royal Bank of Canada now owns 12,971 shares of the company’s stock valued at $91,000 after acquiring an additional 2,556 shares during the last quarter. Finally, Readystate Asset Management LP purchased a new stake in shares of Abrdn Emerging Markets Equity Income Fund in the 1st quarter valued at $203,000. Hedge funds and other institutional investors own 73.93% of the company’s stock.

Abrdn Emerging Markets Equity Income Fund Company Profile

Abrdn Emerging Markets Equity Income Fund (NYSE:AEF) is a closed‐end investment company that seeks to provide investors with a combination of current income and long-term capital appreciation by investing primarily in dividend-paying equities of companies located in emerging market countries. The fund offers investors access to a diversified portfolio of stocks across Asia, Latin America, Eastern Europe, the Middle East and Africa, targeting firms with strong cash flow characteristics and sustainable payout policies.

The investment process combines bottom-up fundamental research with a disciplined focus on income generation.