Shares of Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF – Get Free Report) fell 0.9% during trading on Tuesday . The company traded as low as $4.49 and last traded at $4.54. 67,556 shares changed hands during trading, an increase of 9% from the average session volume of 62,065 shares. The stock had previously closed at $4.58.
Abrdn Australia Equity Fund Stock Performance
Abrdn Australia Equity Fund Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, August 23rd were given a $0.12 dividend. The ex-dividend date was Friday, August 23rd. This represents a $0.48 dividend on an annualized basis and a yield of 10.57%.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its stake in Abrdn Australia Equity Fund by 46.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,499,859 shares of the company’s stock worth $10,649,000 after purchasing an additional 790,758 shares during the period. Karpus Management Inc. raised its holdings in shares of Abrdn Australia Equity Fund by 267.2% in the first quarter. Karpus Management Inc. now owns 52,625 shares of the company’s stock valued at $224,000 after buying an additional 38,295 shares during the last quarter. Cetera Advisors LLC acquired a new stake in shares of Abrdn Australia Equity Fund during the first quarter worth about $97,000. Finally, Atria Wealth Solutions Inc. grew its holdings in shares of Abrdn Australia Equity Fund by 3.6% during the second quarter. Atria Wealth Solutions Inc. now owns 588,881 shares of the company’s stock worth $2,550,000 after buying an additional 20,678 shares during the last quarter.
Abrdn Australia Equity Fund Company Profile
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.
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