Short Interest in Abrdn Japan Equity Fund Inc (NYSE:JEQ) Grows By 27.2%

Abrdn Japan Equity Fund Inc (NYSE:JEQ) was the recipient of a significant increase in short interest in February. As of February 28th, there was short interest totalling 45,300 shares, an increase of 27.2% from the February 13th total of 35,600 shares. Based on an average daily trading volume, of 45,000 shares, the days-to-cover ratio is presently 1.0 days. Approximately 0.7% of the shares of the stock are short sold.

Abrdn Japan Equity Fund Stock Performance

Abrdn Japan Equity Fund stock opened at $6.64 on Wednesday. Abrdn Japan Equity Fund has a 1-year low of $5.27 and a 1-year high of $6.66. The stock’s 50 day moving average price is $5.89 and its 200 day moving average price is $5.92.

Abrdn Japan Equity Fund Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 21st will be paid a $0.11 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $0.44 dividend on an annualized basis and a dividend yield of 6.62%.

Institutional Trading of Abrdn Japan Equity Fund

A number of institutional investors have recently modified their holdings of the business. Saba Capital Management L.P. boosted its stake in shares of Abrdn Japan Equity Fund by 0.9% in the fourth quarter. Saba Capital Management L.P. now owns 687,081 shares of the company’s stock valued at $3,951,000 after buying an additional 6,394 shares in the last quarter. Bank of America Corp DE boosted its stake 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 buying an additional 6,724 shares in the last quarter. Blue Bell Private Wealth Management LLC boosted its position 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 in the last quarter. CSS LLC IL purchased a new stake in Abrdn Japan Equity Fund during the fourth quarter worth $60,000. Finally, Kovitz Investment Group Partners LLC purchased a new stake in Abrdn Japan Equity Fund during the third quarter worth $65,000. 62.72% of the stock is currently owned by hedge funds and other institutional investors.

About Abrdn Japan Equity Fund

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.