Abrdn Australia Equity Fund Inc to Issue Quarterly Dividend of $0.36 (NYSEAMERICAN:IAF)

Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) announced a quarterly dividend on Monday, May 11th. Shareholders of record on Thursday, May 21st will be given a dividend of 0.36 per share on Saturday, May 30th. This represents a c) dividend on an annualized basis and a yield of 11.0%. The ex-dividend date of this dividend is Thursday, May 21st.

Abrdn Australia Equity Fund Price Performance

Shares of IAF opened at $13.05 on Tuesday. Abrdn Australia Equity Fund has a 1 year low of $11.76 and a 1 year high of $14.54. The firm has a fifty day moving average of $12.72 and a 200-day moving average of $13.12.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of America Corp DE increased its stake in shares of 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 purchasing an additional 4,765 shares during the period. PNC Financial Services Group Inc. bought a new position in Abrdn Australia Equity Fund in the 4th quarter worth approximately $78,000. Citadel Advisors LLC bought a new position in Abrdn Australia Equity Fund in the 3rd quarter worth approximately $86,000. NWF Advisory Services Inc. increased its position in Abrdn Australia Equity Fund by 5.9% in the 1st quarter. NWF Advisory Services Inc. now owns 36,527 shares of the company’s stock valued at $443,000 after acquiring an additional 2,034 shares during the period. Finally, Osaic Holdings Inc. raised its stake in Abrdn Australia Equity Fund by 5.0% during the 2nd 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 in 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.