Abrdn Australia Equity Fund Stock Set to Reverse Split on Thursday, October 23rd (NYSEAMERICAN:IAF)

Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF)’s stock is set to reverse split on Thursday, October 23rd. The 1-3 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, October 22nd.

Abrdn Australia Equity Fund Stock Down 0.2%

Abrdn Australia Equity Fund stock opened at $4.39 on Wednesday. Abrdn Australia Equity Fund has a one year low of $3.35 and a one year high of $4.71. The business’s fifty day moving average is $4.59 and its 200 day moving average is $4.38.

Abrdn Australia Equity Fund Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Friday, August 22nd were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $0.48 annualized dividend and a dividend yield of 10.9%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. NWF Advisory Services Inc. lifted its holdings 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 acquiring an additional 2,661 shares during the period. Osaic Holdings Inc. lifted its holdings in Abrdn Australia Equity Fund by 5.0% in the second quarter. Osaic Holdings Inc. now owns 122,535 shares of the company’s stock valued at $548,000 after acquiring an additional 5,818 shares during the period. Bank of America Corp DE lifted its holdings in Abrdn Australia Equity Fund by 64.8% in the second quarter. Bank of America Corp DE now owns 12,121 shares of the company’s stock valued at $54,000 after acquiring an additional 4,765 shares during the period. Cetera Investment Advisers lifted 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 valued at $3,210,000 after acquiring an additional 28,921 shares during the period. Finally, Shaker Financial Services LLC lifted its holdings 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 acquiring 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.