Abrdn Japan Equity Fund Inc (NYSE:JEQ) Sees Large Growth in Short Interest

Abrdn Japan Equity Fund Inc (NYSE:JEQ) saw a large increase in short interest in November. As of November 30th, there was short interest totalling 21,300 shares, an increase of 153.6% from the November 15th total of 8,400 shares. Based on an average daily volume of 30,300 shares, the short-interest ratio is currently 0.7 days.

Hedge Funds Weigh In On Abrdn Japan Equity Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Successful Portfolios LLC boosted its position in Abrdn Japan Equity Fund by 4.0% during the 3rd quarter. Successful Portfolios LLC now owns 85,674 shares of the company’s stock worth $535,000 after acquiring an additional 3,271 shares during the period. Shaker Financial Services LLC lifted its position in shares of Abrdn Japan Equity Fund by 12.5% in the second quarter. Shaker Financial Services LLC now owns 68,399 shares of the company’s stock worth $402,000 after purchasing an additional 7,586 shares in the last quarter. Kovitz Investment Group Partners LLC purchased a new stake in shares of Abrdn Japan Equity Fund in the third quarter worth approximately $65,000. Sanctuary Advisors LLC acquired a new stake in shares of Abrdn Japan Equity Fund during the second quarter worth approximately $155,000. Finally, City of London Investment Management Co. Ltd. grew its position in Abrdn Japan Equity Fund by 23.3% during the second quarter. City of London Investment Management Co. Ltd. now owns 145,213 shares of the company’s stock valued at $852,000 after purchasing an additional 27,425 shares in the last quarter. 62.72% of the stock is currently owned by hedge funds and other institutional investors.

Abrdn Japan Equity Fund Stock Performance

Abrdn Japan Equity Fund stock opened at $5.85 on Friday. Abrdn Japan Equity Fund has a 1 year low of $5.27 and a 1 year high of $6.39. The firm’s 50 day moving average price is $5.91 and its two-hundred day moving average price is $5.95.

Abrdn Japan Equity Fund Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Thursday, November 21st will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.48 annualized dividend and a yield of 8.21%.

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.