Abrdn Australia Equity Fund (NYSEAMERICAN:IAF) Trading 0.7% Higher – Time to Buy?

Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) shares traded up 0.7% during mid-day trading on Wednesday . The stock traded as high as $4.44 and last traded at $4.42. 68,145 shares were traded during trading, a decline of 5% from the average session 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 company also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Thursday, November 21st were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 11.76%. The ex-dividend date was Thursday, November 21st. This is an increase from Abrdn Australia Equity Fund’s previous quarterly dividend of $0.12.

Hedge Funds Weigh In On Abrdn Australia Equity Fund

A number of institutional investors have recently modified their holdings of the stock. Covenant Partners LLC acquired a new position in Abrdn Australia Equity Fund during the third quarter worth $52,000. Atria Wealth Solutions Inc. acquired a new stake in shares of Abrdn Australia Equity Fund in the fourth quarter valued at approximately $100,000. International Assets Investment Management LLC purchased a new stake in Abrdn Australia Equity Fund in the 3rd quarter valued at $137,000. Wolverine Asset Management LLC increased its position in Abrdn Australia Equity Fund by 369.2% during the third quarter. Wolverine Asset Management LLC now owns 32,799 shares of the company’s stock worth $154,000 after purchasing an additional 25,808 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Abrdn Australia Equity Fund by 8.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,898,703 shares of the company’s stock valued at $13,653,000 after buying an additional 223,926 shares during the period.

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.