Wolverine Asset Management LLC Buys New Holdings in Abrdn Australia Equity Fund Inc $IAF

Wolverine Asset Management LLC bought a new stake in Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 186,175 shares of the company’s stock, valued at approximately $832,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Shaker Financial Services LLC increased its position in Abrdn Australia Equity Fund by 20.0% in the 1st quarter. Shaker Financial Services LLC now owns 75,045 shares of the company’s stock valued at $302,000 after buying an additional 12,500 shares in the last quarter. Cetera Investment Advisers boosted its stake in Abrdn Australia Equity Fund by 4.7% during the 1st quarter. Cetera Investment Advisers now owns 689,163 shares of the company’s stock valued at $2,777,000 after purchasing an additional 30,625 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake 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 valued at $17,839,000 after purchasing an additional 231,047 shares during the last quarter.

Abrdn Australia Equity Fund Trading Down 0.4%

IAF stock opened at $13.56 on Friday. Abrdn Australia Equity Fund Inc has a 52-week low of $10.05 and a 52-week high of $14.15. The business has a 50-day simple moving average of $13.70 and a two-hundred day simple moving average of $13.36.

Abrdn Australia Equity Fund Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Friday, August 22nd were paid a dividend of $0.36 per share. The ex-dividend date was Friday, August 22nd. This represents a $1.44 dividend on an annualized basis and a yield of 10.6%.

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.