Saba Capital Management, L.P. Buys 52,651 Shares of Abrdn Japan Equity Fund Inc (NYSE:JEQ) Stock

Abrdn Japan Equity Fund Inc (NYSE:JEQ) major shareholder Saba Capital Management, L.P. purchased 52,651 shares of Abrdn Japan Equity Fund stock in a transaction on Wednesday, May 28th. The stock was bought at an average price of $7.11 per share, for a total transaction of $374,348.61. Following the completion of the acquisition, the insider now owns 1,508,233 shares in the company, valued at $10,723,536.63. The trade was a 3.62% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• On Thursday, May 29th, Saba Capital Management, L.P. purchased 7,596 shares of Abrdn Japan Equity Fund stock. The stock was bought at an average price of $7.14 per share, for a total transaction of $54,235.44.

Abrdn Japan Equity Fund Trading Up 0.3%

Shares of NYSE JEQ opened at $7.17 on Friday. The firm’s fifty day moving average is $6.61 and its two-hundred day moving average is $6.14. Abrdn Japan Equity Fund Inc has a 52-week low of $5.27 and a 52-week high of $7.21.

Institutional Trading of Abrdn Japan Equity Fund

A number of institutional investors and hedge funds have recently bought and sold shares of JEQ. Wolverine Asset Management LLC increased its holdings in Abrdn Japan Equity Fund by 77.9% in the 4th 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 last quarter. Tabor Asset Management LP bought a new stake in Abrdn Japan Equity Fund in the 1st quarter valued at $453,000. Almitas Capital LLC bought a new stake in Abrdn Japan Equity Fund in the 1st quarter valued at $394,000. Matisse Capital increased its holdings in Abrdn Japan Equity Fund by 17.0% in the 4th 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 last quarter. Finally, CSS LLC IL purchased a new position in shares of Abrdn Japan Equity Fund in the 4th quarter worth $60,000. 62.72% of the stock is currently owned by institutional investors.

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.