Wolverine Asset Management LLC Grows Stock Position in Abrdn Japan Equity Fund Inc (NYSE:JEQ)

Wolverine Asset Management LLC boosted its stake in shares of Abrdn Japan Equity Fund Inc (NYSE:JEQ) by 77.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 165,606 shares of the company’s stock after buying an additional 72,496 shares during the period. Wolverine Asset Management LLC owned approximately 1.20% of Abrdn Japan Equity Fund worth $952,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Kovitz Investment Group Partners LLC purchased a new stake in Abrdn Japan Equity Fund during the 3rd quarter valued at $65,000. Matisse Capital raised its holdings 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 period. Landscape Capital Management L.L.C. raised its holdings in Abrdn Japan Equity Fund by 84.5% during the 3rd 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 period. Finally, Shaker Financial Services LLC increased its stake 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 purchasing an additional 17,400 shares during the period. Hedge funds and other institutional investors own 62.72% of the company’s stock.

Abrdn Japan Equity Fund Trading Down 1.9 %

JEQ stock opened at $5.81 on Friday. The business’s fifty day simple moving average is $5.79 and its two-hundred day simple moving average is $5.91. Abrdn Japan Equity Fund Inc has a twelve month low of $5.27 and a twelve month high of $6.39.

Abrdn Japan Equity Fund Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders 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 yield of 7.57%.

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.