Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) Declares Quarterly Dividend of $0.35

Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) announced a quarterly dividend on Tuesday, August 11th. Stockholders of record on Monday, August 24th will be paid a dividend of 0.35 per share on Wednesday, September 30th. This represents a c) dividend on an annualized basis and a dividend yield of 10.5%. The ex-dividend date is Monday, August 24th.

Abrdn Australia Equity Fund Price Performance

Shares of NYSEAMERICAN:IAF traded down $0.05 during trading on Wednesday, hitting $13.28. 8,715 shares of the stock traded hands, compared to its average volume of 27,181. The company has a fifty day moving average price of $12.55 and a two-hundred day moving average price of $12.91. Abrdn Australia Equity Fund has a 52-week low of $11.76 and a 52-week high of $14.54.

Institutional Trading of Abrdn Australia Equity Fund

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cetera Investment Advisers raised its position in shares of Abrdn Australia Equity Fund by 17.2% in the first quarter. Cetera Investment Advisers now owns 308,366 shares of the company’s stock worth $3,737,000 after acquiring an additional 45,332 shares during the period. Osaic Holdings Inc. grew its position in shares of Abrdn Australia Equity Fund by 5.0% during the 2nd quarter. Osaic Holdings Inc. now owns 122,535 shares of the company’s stock valued at $548,000 after acquiring an additional 5,818 shares during the period. NWF Advisory Services Inc. grew its position in shares of Abrdn Australia Equity Fund by 5.9% during the 1st quarter. NWF Advisory Services Inc. now owns 36,527 shares of the company’s stock valued at $443,000 after acquiring an additional 2,034 shares during the period. Bank of America Corp DE grew its position in shares of Abrdn Australia Equity Fund by 164.3% during the 3rd quarter. Bank of America Corp DE now owns 32,032 shares of the company’s stock valued at $147,000 after acquiring an additional 19,911 shares during the period. Finally, Citadel Advisors LLC purchased a new position in shares of Abrdn Australia Equity Fund in the 3rd quarter valued at about $86,000.

Abrdn Australia Equity Fund Company Profile

Abrdn Australia Equity Fund (NYSE American: IAF) is a closed-end investment company that seeks long-term capital growth through a diversified portfolio of Australian equities. Listed on the NYSE American exchange, the fund provides U.S. and international investors with direct exposure to the Australian stock market, encompassing companies across a range of sectors including financials, materials, healthcare and consumer staples.

The fund’s investment strategy is driven by a bottom-up, fundamental research process led by abrdn’s Australia-based equity team.