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

Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) declared a quarterly dividend on Tuesday, February 10th. Shareholders of record on Friday, February 20th will be given a dividend of 0.36 per share on Tuesday, March 31st. This represents a c) annualized dividend and a yield of 10.0%. The ex-dividend date is Friday, February 20th.

Abrdn Australia Equity Fund Stock Up 1.9%

Shares of NYSEAMERICAN:IAF traded up $0.27 on Wednesday, hitting $14.46. 48,553 shares of the company’s stock were exchanged, compared to its average volume of 28,200. The business’s 50 day simple moving average is $13.25 and its two-hundred day simple moving average is $13.44. Abrdn Australia Equity Fund has a 12 month low of $10.05 and a 12 month high of $14.54.

Institutional Investors Weigh In On Abrdn Australia Equity Fund

Hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC grew its stake in Abrdn Australia Equity Fund by 12.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 4,490,128 shares of the company’s stock valued at $20,610,000 after purchasing an additional 499,359 shares during the last quarter. Cetera Investment Advisers grew its holdings in Abrdn Australia Equity Fund by 4.2% in the second quarter. Cetera Investment Advisers now owns 718,084 shares of the company’s stock worth $3,210,000 after purchasing an additional 28,921 shares during the last quarter. Wolverine Asset Management LLC acquired a new stake in shares of Abrdn Australia Equity Fund in the 2nd quarter worth $832,000. Osaic Holdings Inc. grew its stake in Abrdn Australia Equity Fund by 5.0% during the 2nd quarter. Osaic Holdings Inc. now owns 122,535 shares of the company’s stock worth $548,000 after buying an additional 5,818 shares during the last quarter. Finally, NWF Advisory Services Inc. raised its stake in Abrdn Australia Equity Fund by 2.7% in the second quarter. NWF Advisory Services Inc. now owns 100,989 shares of the company’s stock valued at $451,000 after buying an additional 2,661 shares during the last quarter.

About Abrdn Australia Equity Fund

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.