Abrdn Australia Equity Fund (NYSEAMERICAN:IAF) Stock Price Down 0.2% – Should You Sell?

Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF)’s share price traded down 0.2% during trading on Thursday . The company traded as low as $12.78 and last traded at $12.82. 13,093 shares changed hands during trading, a decline of 33% from the average session volume of 19,549 shares. The stock had previously closed at $12.85.

Abrdn Australia Equity Fund Stock Down 0.2%

The stock’s fifty day simple moving average is $13.11 and its 200-day simple moving average is $13.43.

Abrdn Australia Equity Fund Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 12th. Investors of record on Friday, November 21st will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 11.9%. This is an increase from Abrdn Australia Equity Fund’s previous quarterly dividend of $0.36. The ex-dividend date is Friday, November 21st.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of IAF. Bridgewealth Advisory Group LLC grew its position in shares of Abrdn Australia Equity Fund by 2.6% in the third quarter. Bridgewealth Advisory Group LLC now owns 32,344 shares of the company’s stock valued at $148,000 after purchasing an additional 817 shares during the period. NWF Advisory Services Inc. boosted its stake in Abrdn Australia Equity Fund by 2.7% in the 2nd quarter. NWF Advisory Services Inc. now owns 100,989 shares of the company’s stock worth $451,000 after buying an additional 2,661 shares during the last quarter. Bank of America Corp DE boosted its stake in Abrdn Australia Equity Fund by 64.8% in the 2nd quarter. Bank of America Corp DE now owns 12,121 shares of the company’s stock worth $54,000 after buying an additional 4,765 shares during the last quarter. Osaic Holdings Inc. grew its holdings in Abrdn Australia Equity Fund by 5.0% in the 2nd quarter. Osaic Holdings Inc. now owns 122,535 shares of the company’s stock valued at $548,000 after buying an additional 5,818 shares during the period. Finally, Shaker Financial Services LLC increased its stake in shares of Abrdn Australia Equity Fund by 16.0% during the 2nd quarter. Shaker Financial Services LLC now owns 87,045 shares of the company’s stock valued at $389,000 after acquiring an additional 12,000 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.