JEQ ABRDN JAPAN EQUITY FUND, INC. Insider Trading

Saba Capital buys 640 shares of JEQ at $7.21; stock up 21.2% in 90 days, 4.5% in 30 days.

Saba Capital Management purchased 640 shares of Aberdeen Japan Equity Fund on 2025-06-03 at $7.21, adding modestly to its 1.52M-share position. The purchase occurred within the stock's 52-week range ($5.45–$7.28), at -1.1% from the 52-week high, following recent positive momentum: JEQ has rallied 21.2% over the past 90 days and 4.5% over the past 30 days. The timing of this small buy coincides with the fund's strength, though the transaction amount ($4.6K) represents an incremental addition to an already large holding rather than a signal of concentrated new conviction. Prior trades at this ticker (two buys on 2025-05-28 and 2025-05-29) lack measurable outcomes, so near-term accuracy cannot yet be assessed at JEQ specifically.

10% owner Saba Capital purchases 7,596 shares of JEQ at $7.14 (29 May); stock now $7.17, up 6.7% in 30d.

Saba Capital Management, L.P., a 10% shareholder, bought 7,596 shares at $7.14 on 2025-05-29, expanding holdings from 1,508,233 to 1,515,829 shares for a total value of $54,235.44. The purchase occurred as the fund's price has recently appreciated 6.7% over 30 days and 24.7% over 90 days, currently sitting at $7.17 near its 52-week high of $7.17. Saba's prior activity at JEQ shows a buy on the preceding day (2025-05-28), indicating consecutive purchases in this fund. Across all tickers, the insider maintains a broad buy-heavy track record with 16 prior open-market purchases versus 4 sales, though timing outcomes on prior buys remain unmeasured.

Saba Capital (10% owner) purchases 52,651 shares of ABRDN JAPAN EQUITY FUND at $7.11; stock at 52-week high of $7.15

Saba Capital Management acquired 52,651 shares at $7.11 on 2025-05-28, raising its stake to 1,508,233 shares post-transaction. The purchase occurs at the fund's current 52-week high of $7.15, with the stock up 24.4% over 90 days and 6.2% over 30 days. Saba's cross-ticker track record shows 16 prior buys against 4 prior sells, indicating a long-biased posture, though same-ticker history at JEQ is limited to this single transaction so far. The timing of this accumulation—into elevated price levels following a multi-month rally—provides no material signal about conviction or forward returns, as the transaction occurred at peak valuation rather than into depressed levels.

Director DiMartino Rose initiates 1.0K share position in JEQ at $6.19, near 52-week high of $6.34

DiMartino Rose purchased 1,000 shares of ABRDN JAPAN EQUITY FUND, INC. at $6.19 on 2024-10-02, establishing an initial position in the fund. The transaction occurred within 1.3% of the 52-week high of $6.34, and the stock has appreciated 4.0% over the prior 30 days and 4.7% over 90 days. Across his open-market history, the insider's prior 4 buys averaged a -0.2% 30-day return, providing limited context for evaluating this purchase's timing. As a first purchase by this director, this transaction merits routine disclosure but lacks the pattern or scale to suggest material strategic positioning.

Director Maher Bill purchased 809 JEQ shares for $4,991.53 on 2024-08-23, raising holdings 31.6% to 3,367 shares.

On 2024-08-23, director Maher Bill purchased 809 shares at $6.17, expanding his JEQ stake by 31.6% to 3,367 shares post-transaction. This is his second discretionary purchase at JEQ in nine days (prior buy on 2024-08-14), suggesting continued accumulation in the fund. Historically, his cross-ticker track record shows 11 prior buys with an 80.00% 90-day win rate and +0.7% average 90-day return, but his same-ticker purchase history at JEQ is mixed: the 2023-07-10 buy delivered -9.4% over 90 days, and 0 of 1 measurable prior JEQ buys achieved positive 90-day returns. Stock price is currently at $6.12, down 3.5% from its 52-week high and up 4.1% over 30 days, placing the trade near recent highs but not at depressed levels.

Director Maher Bill bought 1,000 shares of JEQ at $5.90 on 2024-08-14, expanding holdings 64.2% to 2.6K shares.

Maher Bill purchased 1,000 shares at $5.90, bringing his total holdings to 2,558 shares—a 64.2% increase from the prior 1,558 shares. The current price of $6.02 is 5.0% below the 52-week high of $6.34 and down 2.8% over the past 30 days. His cross-ticker track record shows 8 prior open-market buys with an 80.00% 90-day win rate and average 90-day return of +0.7%. However, his sole prior purchase at JEQ on 2023-07-10 underperformed materially, posting a 90-day return of -9.4%, indicating weaker execution at this specific security. This transaction represents a material accumulation at a ticker where the insider's historical timing has not been favorable.