Abrdn Australia Equity Fund (NYSEAMERICAN:IAF) Trading Up 0.7% – Here’s Why

Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF)’s share price rose 0.7% during trading on Wednesday . The stock traded as high as $4.44 and last traded at $4.42. Approximately 68,145 shares were traded during mid-day trading, a decline of 5% from the average daily volume of 71,998 shares. The stock had previously closed at $4.39.

Abrdn Australia Equity Fund Stock Performance

Abrdn Australia Equity Fund Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Thursday, November 21st were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 11.74%. This is an increase from Abrdn Australia Equity Fund’s previous quarterly dividend of $0.12. The ex-dividend date was Thursday, November 21st.

Institutional Investors Weigh In On Abrdn Australia Equity Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Covenant Partners LLC purchased a new position in shares of Abrdn Australia Equity Fund in the third quarter worth approximately $52,000. Chatham Capital Group Inc. bought a new position in Abrdn Australia Equity Fund in the fourth quarter worth approximately $68,000. Atria Wealth Solutions Inc. purchased a new position in shares of Abrdn Australia Equity Fund during the 4th quarter worth $100,000. Raymond James Financial Inc. bought a new stake in shares of Abrdn Australia Equity Fund during the 4th quarter valued at $127,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of Abrdn Australia Equity Fund in the 3rd quarter worth $137,000.

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.