Shaker Financial Services LLC Purchases 12,000 Shares of Abrdn Australia Equity Fund Inc $IAF

Shaker Financial Services LLC lifted its position in shares of Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) by 16.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 87,045 shares of the company’s stock after purchasing an additional 12,000 shares during the quarter. Shaker Financial Services LLC’s holdings in Abrdn Australia Equity Fund were worth $389,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IAF. Cetera Investment Advisers boosted its position in shares of Abrdn Australia Equity Fund by 4.7% during the first quarter. Cetera Investment Advisers now owns 689,163 shares of the company’s stock worth $2,777,000 after purchasing an additional 30,625 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in Abrdn Australia Equity Fund by 6.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 3,990,769 shares of the company’s stock valued at $17,839,000 after acquiring an additional 231,047 shares in the last quarter. Wolverine Asset Management LLC bought a new stake in Abrdn Australia Equity Fund in the 2nd quarter valued at $832,000. Finally, Bridgewealth Advisory Group LLC bought a new stake in Abrdn Australia Equity Fund in the 2nd quarter valued at $141,000.

Abrdn Australia Equity Fund Stock Up 0.9%

IAF opened at $13.68 on Tuesday. Abrdn Australia Equity Fund Inc has a 12 month low of $10.05 and a 12 month high of $14.15. The firm’s fifty day simple moving average is $13.70 and its 200 day simple moving average is $13.39.

Abrdn Australia Equity Fund Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Friday, August 22nd were given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 10.5%. The ex-dividend date of this dividend was Friday, August 22nd.

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.