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

Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF)’s stock price was up 0.2% during mid-day trading on Tuesday . The stock traded as high as $4.33 and last traded at $4.33. Approximately 17,983 shares changed hands during 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 Price Performance

Abrdn Australia Equity Fund Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, May 23rd will be given a dividend of $0.12 per share. The ex-dividend date is Wednesday, May 22nd. This represents a $0.48 annualized dividend and a dividend yield of 11.09%.

Institutional Trading of Abrdn Australia Equity Fund

Several institutional investors and hedge funds have recently made changes to their positions in IAF. Cetera Advisors LLC purchased a new stake in shares of Abrdn Australia Equity Fund in the 1st quarter valued at about $97,000. Karpus Management Inc. lifted its holdings in shares of Abrdn Australia Equity Fund by 267.2% in the 1st quarter. Karpus Management Inc. now owns 52,625 shares of the company’s stock valued at $224,000 after purchasing an additional 38,295 shares during the last quarter. 1607 Capital Partners LLC lifted its holdings in shares of Abrdn Australia Equity Fund by 9.5% in the 3rd quarter. 1607 Capital Partners LLC now owns 1,486,852 shares of the company’s stock valued at $5,873,000 after purchasing an additional 128,703 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Abrdn Australia Equity Fund by 31.5% in 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 purchasing an additional 409,247 shares during 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.