Abrdn Australia Equity Fund (NYSEAMERICAN:IAF) Trading 0.2% Higher

Shares of Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) were up 0.2% on Tuesday . The company traded as high as $4.33 and last traded at $4.33. Approximately 17,983 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 71,374 shares. The stock had previously closed at $4.32.

Abrdn Australia Equity Fund Stock Up 0.7 %

Abrdn Australia Equity Fund Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, May 23rd will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 11.14%. The ex-dividend date is Wednesday, May 22nd.

Institutional Investors Weigh In On Abrdn Australia Equity Fund

Several hedge funds and other institutional investors have recently modified their holdings of IAF. Cetera Advisors LLC purchased a new position in Abrdn Australia Equity Fund during the first quarter valued at $97,000. Karpus Management Inc. increased its position in Abrdn Australia Equity Fund by 267.2% in the first quarter. Karpus Management Inc. now owns 52,625 shares of the company’s stock worth $224,000 after buying an additional 38,295 shares in the last quarter. 1607 Capital Partners LLC raised its stake in shares of Abrdn Australia Equity Fund by 9.5% in the third quarter. 1607 Capital Partners LLC now owns 1,486,852 shares of the company’s stock worth $5,873,000 after buying an additional 128,703 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Abrdn Australia Equity Fund by 31.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,709,101 shares of the company’s stock valued at $7,400,000 after buying an additional 409,247 shares in the last quarter.

About Abrdn Australia Equity Fund

Abrdn Australia Equity Fund Inc is a closed ended equity mutual fund launched and managed by Aberdeen Standard Investments (Asia) Limited. The fund is managed by Aberdeen Standard Investments Australia Limited. It invests in the public equity markets of Australia. The fund makes its investments in firms operating across diversified sectors.