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

Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) announced a quarterly dividend on Tuesday, August 11th. Shareholders of record on Monday, August 24th will be paid a dividend of 0.35 per share on Monday, August 31st. This represents a c) annualized dividend and a dividend yield of 10.5%. The ex-dividend date of this dividend is Monday, August 24th.

Abrdn Australia Equity Fund Stock Performance

Shares of IAF traded down $0.05 during mid-day trading on Wednesday, reaching $13.28. 4,157 shares of the company’s stock traded hands, compared to its average volume of 27,180. The business’s 50-day moving average price is $12.55 and its 200-day moving average price is $12.91. Abrdn Australia Equity Fund has a 12 month low of $11.76 and a 12 month high of $14.54.

Institutional Trading of Abrdn Australia Equity Fund

Several hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE boosted its position in Abrdn Australia Equity Fund by 64.8% during the 2nd quarter. Bank of America Corp DE now owns 12,121 shares of the company’s stock worth $54,000 after acquiring an additional 4,765 shares during the period. Osaic Holdings Inc. raised its stake in shares of Abrdn Australia Equity Fund by 5.0% during the second quarter. Osaic Holdings Inc. now owns 122,535 shares of the company’s stock valued at $548,000 after purchasing an additional 5,818 shares in the last quarter. Citadel Advisors LLC bought a new stake in shares of Abrdn Australia Equity Fund during the third quarter valued at about $86,000. PNC Financial Services Group Inc. acquired a new stake in Abrdn Australia Equity Fund in the fourth quarter worth about $78,000. Finally, NWF Advisory Services Inc. acquired a new stake in Abrdn Australia Equity Fund in the fourth quarter worth about $446,000.

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.