Aberdeen Australia Equity Fund Inc (NYSEAMERICAN:IAF) shot up 0.4% on Tuesday . The company traded as high as $5.24 and last traded at $5.23, 487 shares changed hands during trading. A decline of 99% from the average session volume of 54,679 shares. The stock had previously closed at $5.21.
The business also recently disclosed a — dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 23rd were paid a $0.14 dividend. This represents a dividend yield of 10.3%. The ex-dividend date was Friday, September 20th.
Several hedge funds and other institutional investors have recently modified their holdings of the company. RMB Capital Management LLC acquired a new position in Aberdeen Australia Equity Fund during the second quarter worth approximately $96,000. Wells Fargo & Company MN grew its stake in shares of Aberdeen Australia Equity Fund by 147.3% in the 2nd quarter. Wells Fargo & Company MN now owns 180,814 shares of the company’s stock valued at $990,000 after purchasing an additional 107,712 shares during the last quarter. Finally, Measured Wealth Private Client Group LLC purchased a new position in shares of Aberdeen Australia Equity Fund in the 2nd quarter valued at approximately $216,000.
Aberdeen 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.
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