Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) Announces Quarterly Dividend of $0.36

Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) announced a quarterly dividend on Tuesday, November 10th. Investors of record on Friday, November 20th will be paid a dividend of $0.36 per share on Tuesday, January 12th. This represents a $1.44 annualized dividend and a dividend yield of 11.6%. The ex-dividend date is Friday, November 20th.

Abrdn Australia Equity Fund Price Performance

NYSEAMERICAN IAF traded up $0.12 during mid-day trading on Wednesday, reaching $12.46. The stock had a trading volume of 11,428 shares, compared to its average volume of 27,744. Abrdn Australia Equity Fund has a 1 year low of $11.76 and a 1 year high of $14.54. The company has a fifty day moving average price of $12.66 and a 200 day moving average price of $12.88.

Institutional Investors Weigh In On Abrdn Australia Equity Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC boosted its stake in shares of Abrdn Australia Equity Fund by 4.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,541,046 shares of the company’s stock worth $19,294,000 after buying an additional 60,807 shares during the last quarter. Shaker Financial Services LLC purchased a new position in Abrdn Australia Equity Fund in the third quarter worth about $582,000. Susquehanna International Group LLP grew its stake in shares of Abrdn Australia Equity Fund by 21.4% during the 2nd quarter. Susquehanna International Group LLP now owns 26,518 shares of the company’s stock valued at $328,000 after purchasing an additional 4,676 shares during the period. Cetera Investment Advisers grew its stake in shares of Abrdn Australia Equity Fund by 17.2% during the 1st quarter. Cetera Investment Advisers now owns 308,366 shares of the company’s stock valued at $3,737,000 after purchasing an additional 45,332 shares during the period. Finally, PNC Financial Services Group Inc. grew its stake in shares of Abrdn Australia Equity Fund by 86.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 11,288 shares of the company’s stock valued at $137,000 after purchasing an additional 5,235 shares during the period.

About Abrdn Australia Equity Fund

abrdn Australia Equity Fund, Inc. is a closed-end investment company listed on the NYSE American under the symbol IAF. The fund seeks long-term capital appreciation by investing primarily in equity securities issued by companies based in, or deriving a substantial portion of their business from, Australia. The portfolio provides investors with access to a range of Australian industries and businesses through a professionally managed collection of publicly traded securities. Its investments may include companies across sectors such as financial services, materials, energy, healthcare, consumer goods and industrials, although portfolio composition changes over time.