Abrdn Australia Equity Fund (NYSEAMERICAN:IAF) Trading Down 0.2% – Here’s Why

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

Abrdn Australia Equity Fund Trading Down 0.2%

The firm has a fifty day moving average price of $13.12 and a 200 day moving average price of $13.43.

Abrdn Australia Equity Fund Increases Dividend

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Cetera Investment Advisers lifted its position in shares of Abrdn Australia Equity Fund by 4.2% in the 2nd 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 in the last quarter. Allspring Global Investments Holdings LLC grew its position in Abrdn Australia Equity Fund by 6.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 3,990,769 shares of the company’s stock worth $17,839,000 after purchasing an additional 231,047 shares in the last quarter. Wolverine Asset Management LLC acquired a new stake in Abrdn Australia Equity Fund during the 2nd quarter valued at $832,000. Shaker Financial Services LLC lifted its holdings in shares of 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 purchasing an additional 12,000 shares in the last quarter. Finally, Citadel Advisors LLC acquired a new stake in shares of Abrdn Australia Equity Fund in the third quarter worth $86,000.

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.