Wolverine Asset Management LLC Increases Stake in Abrdn Japan Equity Fund Inc (NYSE:JEQ)

Wolverine Asset Management LLC increased its position in shares of Abrdn Japan Equity Fund Inc (NYSE:JEQ) by 77.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 165,606 shares of the company’s stock after purchasing an additional 72,496 shares during the period. Wolverine Asset Management LLC’s holdings in Abrdn Japan Equity Fund were worth $952,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Matisse Capital increased its stake in shares of Abrdn Japan Equity Fund by 17.0% during the fourth 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. Kovitz Investment Group Partners LLC purchased a new position in shares of Abrdn Japan Equity Fund during the third quarter valued at $65,000. Landscape Capital Management L.L.C. boosted its position in Abrdn Japan Equity Fund by 84.5% during the third quarter. Landscape Capital Management L.L.C. now owns 98,148 shares of the company’s stock valued at $613,000 after purchasing an additional 44,964 shares in the last quarter. Finally, Shaker Financial Services LLC boosted its position in Abrdn Japan Equity Fund by 25.4% during the third quarter. Shaker Financial Services LLC now owns 85,799 shares of the company’s stock valued at $536,000 after purchasing an additional 17,400 shares in the last quarter. Hedge funds and other institutional investors own 62.72% of the company’s stock.

Abrdn Japan Equity Fund Stock Down 1.9 %

Shares of JEQ stock opened at $5.81 on Friday. Abrdn Japan Equity Fund Inc has a 1-year low of $5.27 and a 1-year high of $6.39. The stock’s 50-day moving average is $5.79 and its 200 day moving average is $5.91.

Abrdn Japan Equity Fund Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 21st will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 7.57%. The ex-dividend date of this dividend is Friday, February 21st.

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.