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

Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) rose 0.2% during trading on Tuesday . The stock 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 Performance

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 paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 11.14%. The ex-dividend date of this dividend is Wednesday, May 22nd.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Cetera Advisors LLC acquired a new position in Abrdn Australia Equity Fund during the 1st quarter worth approximately $97,000. Karpus Management Inc. boosted its position in Abrdn Australia Equity Fund by 267.2% during the first quarter. Karpus Management Inc. now owns 52,625 shares of the company’s stock worth $224,000 after purchasing an additional 38,295 shares during the period. 1607 Capital Partners LLC grew its position 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 valued at $5,873,000 after purchasing an additional 128,703 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in 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 worth $7,400,000 after acquiring an additional 409,247 shares during the period.

Abrdn Australia Equity Fund Company Profile

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.