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Saba Capital Management, L.P., a significant stakeholder in abrdn Japan Equity Fund, Inc. (NYSE:JEQ), recently made a notable stock acquisition. The fund, currently trading near its 52-week high of $7.36, has demonstrated strong performance with a 28.47% return year-to-date, according to InvestingPro data. On June 3, the firm purchased 640 shares of common stock at a price of $7.21 per share, totaling $4,614. This transaction increases Saba Capital’s stake, bringing their total shares owned to 1,516,469. The acquisition was reported by Boaz Weinstein, a ten percent owner and representative of Saba Capital. The fund, which maintains an attractive P/E ratio of 5.3 and offers a 6.07% dividend yield, has maintained dividend payments for 18 consecutive years. InvestingPro subscribers can access additional insights and metrics about JEQ’s financial health and valuation.
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