Abrdn Japan Equity Fund Inc (NYSE:JEQ) Short Interest Up 221.7% in July

Abrdn Japan Equity Fund Inc (NYSE:JEQ) was the recipient of a large growth in short interest during the month of July. As of July 15th, there was short interest totalling 14,800 shares, a growth of 221.7% from the June 30th total of 4,600 shares. Based on an average daily trading volume, of 34,900 shares, the short-interest ratio is currently 0.4 days.

Abrdn Japan Equity Fund Trading Up 0.9 %

Shares of NYSE JEQ traded up $0.05 during mid-day trading on Friday, reaching $5.89. The company had a trading volume of 25,618 shares, compared to its average volume of 34,394. The firm has a 50 day simple moving average of $5.92 and a two-hundred day simple moving average of $5.99. Abrdn Japan Equity Fund has a 52-week low of $4.99 and a 52-week high of $6.39.

Abrdn Japan Equity Fund Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Thursday, May 23rd were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 8.15%. This is an increase from Abrdn Japan Equity Fund’s previous quarterly dividend of $0.11. The ex-dividend date was Wednesday, May 22nd.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Wolverine Asset Management LLC grew its position in Abrdn Japan Equity Fund by 239.1% during the 4th quarter. Wolverine Asset Management LLC now owns 34,383 shares of the company’s stock worth $197,000 after purchasing an additional 24,244 shares during the last quarter. Matisse Capital purchased a new position in Abrdn Japan Equity Fund during the 4th quarter worth $332,000. Finally, Successful Portfolios LLC purchased a new position in Abrdn Japan Equity Fund during the 4th quarter worth $458,000. 62.72% of the stock is owned by hedge funds and other institutional investors.

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.