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

Abrdn Japan Equity Fund Inc (NYSE:JEQ) saw a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 45,300 shares, a growth of 27.2% from the February 13th total of 35,600 shares. Approximately 0.7% of the company’s shares are short sold. Based on an average daily volume of 45,000 shares, the days-to-cover ratio is currently 1.0 days.

Abrdn Japan Equity Fund Stock Up 0.1 %

Abrdn Japan Equity Fund stock traded up $0.00 during midday trading on Tuesday, hitting $6.64. 95,882 shares of the stock were exchanged, compared to its average volume of 49,557. The company has a fifty day simple moving average of $5.87 and a two-hundred day simple moving average of $5.92. Abrdn Japan Equity Fund has a 52 week low of $5.27 and a 52 week high of $6.69.

Abrdn Japan Equity Fund Cuts Dividend

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. CSS LLC IL bought a new position in Abrdn Japan Equity Fund during the 4th quarter worth approximately $60,000. Kovitz Investment Group Partners LLC bought a new position in Abrdn Japan Equity Fund in the third quarter valued at approximately $65,000. Blue Bell Private Wealth Management LLC lifted its stake in Abrdn Japan Equity Fund by 40.7% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 25,526 shares of the company’s stock valued at $147,000 after buying an additional 7,381 shares in the last quarter. Bank of America Corp DE lifted its stake in 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. Finally, Landscape Capital Management L.L.C. lifted its stake in Abrdn Japan Equity Fund by 84.5% in the third 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 in the last quarter. Institutional investors own 62.72% of the company’s stock.

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.