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

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

Institutional Investors Weigh In On Abrdn Japan Equity Fund

A number of hedge funds have recently added to or reduced their stakes in JEQ. Wolverine Asset Management LLC lifted its stake in Abrdn Japan Equity Fund by 55.5% in the second quarter. Wolverine Asset Management LLC now owns 152,405 shares of the company’s stock valued at $895,000 after buying an additional 54,374 shares during the last quarter. Shaker Financial Services LLC increased its holdings in shares of Abrdn Japan Equity Fund by 12.5% during the second quarter. Shaker Financial Services LLC now owns 68,399 shares of the company’s stock valued at $402,000 after purchasing an additional 7,586 shares during the period. City of London Investment Management Co. Ltd. increased its holdings in shares of 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 during the period. Logan Stone Capital LLC acquired a new position in shares of Abrdn Japan Equity Fund during the second quarter valued at $212,000. Finally, Sanctuary Advisors LLC acquired a new position in shares of Abrdn Japan Equity Fund during the second quarter valued at $155,000. 62.72% of the stock is currently owned by institutional investors.

Abrdn Japan Equity Fund Trading Down 0.8 %

JEQ 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 stock’s fifty day moving average is $5.91 and its two-hundred day moving average is $5.95.

Abrdn Japan Equity Fund Dividend Announcement

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

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.