46,499 Shares of Abrdn Australia Equity Fund Inc $IAF Bought by Shaker Financial Services LLC

Shaker Financial Services LLC purchased a new stake in Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 46,499 shares of the company’s stock, valued at approximately $582,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its position in shares of Abrdn Australia Equity Fund by 86.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 11,288 shares of the company’s stock valued at $137,000 after acquiring an additional 5,235 shares during the last quarter. Susquehanna International Group LLP increased its stake in Abrdn Australia Equity Fund by 21.4% during the 2nd quarter. Susquehanna International Group LLP now owns 26,518 shares of the company’s stock worth $328,000 after purchasing an additional 4,676 shares in the last quarter. NWF Advisory Services Inc. bought a new stake in shares of Abrdn Australia Equity Fund during the fourth quarter worth $446,000. Finally, Cetera Investment Advisers increased its holdings in Abrdn Australia Equity Fund by 17.2% during the 1st quarter. Cetera Investment Advisers now owns 308,366 shares of the company’s stock worth $3,737,000 after purchasing an additional 45,332 shares in the last quarter.

Abrdn Australia Equity Fund Price Performance

Shares of Abrdn Australia Equity Fund stock opened at $12.37 on Thursday. Abrdn Australia Equity Fund Inc has a 52-week low of $11.76 and a 52-week high of $14.54. The business’s 50 day simple moving average is $12.97 and its 200 day simple moving average is $12.73.

Abrdn Australia Equity Fund Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Monday, August 24th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 11.3%. The ex-dividend date was Monday, August 24th.

About Abrdn Australia Equity Fund

Abrdn Australia Equity Fund, Inc (NYSEAMERICAN:IAF) is a closed-end investment fund that seeks to provide investors with exposure to the Australian equity market. Rather than operating a commercial business, the fund invests primarily in shares of companies based in or substantially connected to Australia.

The fund’s portfolio may include companies across multiple sectors of the Australian economy, with investments selected for their potential to provide long-term capital appreciation and income.