Abrdn Australia Equity Fund Inc (IAF) to Issue Quarterly Dividend of $0.38 on January 12th

Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) declared a quarterly dividend on Tuesday, November 11th. Shareholders of record on Friday, November 21st will be given a dividend of 0.38 per share on Monday, January 12th. This represents a c) annualized dividend and a yield of 12.0%. The ex-dividend date of this dividend is Friday, November 21st. This is a 5.6% increase from Abrdn Australia Equity Fund’s previous quarterly dividend of $0.36.

Abrdn Australia Equity Fund Stock Down 1.9%

Shares of IAF stock opened at $12.66 on Wednesday. Abrdn Australia Equity Fund has a 1 year low of $10.05 and a 1 year high of $14.15. The stock’s 50-day moving average is $13.60 and its two-hundred day moving average is $13.46.

Institutional Investors Weigh In On Abrdn Australia Equity Fund

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Bridgewealth Advisory Group LLC grew its position in Abrdn Australia Equity Fund by 2.6% in the 3rd quarter. Bridgewealth Advisory Group LLC now owns 32,344 shares of the company’s stock valued at $148,000 after buying an additional 817 shares during the last quarter. NWF Advisory Services Inc. boosted its holdings in shares of 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 acquiring an additional 2,661 shares in the last quarter. Bank of America Corp DE increased its stake in shares of Abrdn Australia Equity Fund by 64.8% during the second 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 holdings in Abrdn Australia Equity Fund by 5.0% during the second quarter. Osaic Holdings Inc. now owns 122,535 shares of the company’s stock worth $548,000 after purchasing an additional 5,818 shares in the last quarter. Finally, Shaker Financial Services LLC lifted its position in Abrdn Australia Equity Fund by 16.0% in the second quarter. Shaker Financial Services LLC now owns 87,045 shares of the company’s stock valued at $389,000 after purchasing an additional 12,000 shares during the period.

About Abrdn Australia Equity Fund

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.