Abrdn Australia Equity Fund Inc $IAF Stake Increased by Cetera Investment Advisers

Cetera Investment Advisers lifted its holdings in Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) by 17.2% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 308,366 shares of the company’s stock after acquiring an additional 45,332 shares during the quarter. Cetera Investment Advisers’ holdings in Abrdn Australia Equity Fund were worth $3,737,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. NWF Advisory Services Inc. raised its position in Abrdn Australia Equity Fund by 5.9% during the first quarter. NWF Advisory Services Inc. now owns 36,527 shares of the company’s stock valued at $443,000 after buying an additional 2,034 shares during the period. Bank of America Corp DE boosted its position in Abrdn Australia Equity Fund by 64.8% during the 2nd quarter. Bank of America Corp DE now owns 12,121 shares of the company’s stock worth $54,000 after acquiring an additional 4,765 shares during the period. PNC Financial Services Group Inc. grew its stake in 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 in the last quarter. Osaic Holdings Inc. grew 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. Finally, Citadel Advisors LLC acquired a new position in shares of Abrdn Australia Equity Fund in the 3rd quarter valued at about $86,000.

Abrdn Australia Equity Fund Price Performance

NYSEAMERICAN IAF opened at $13.16 on Thursday. The company has a 50 day simple moving average of $12.51 and a 200-day simple moving average of $12.91. Abrdn Australia Equity Fund Inc has a 52-week low of $11.76 and a 52-week high of $14.54.

Abrdn Australia Equity Fund Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Thursday, May 21st were given a $0.36 dividend. The ex-dividend date was Thursday, May 21st. This represents a $1.44 dividend on an annualized basis and a yield of 10.9%.

Abrdn Australia Equity Fund Profile

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.