Allspring Global Investments Holdings LLC Sells 134,443 Shares of Abrdn Australia Equity Fund Inc $IAF

Allspring Global Investments Holdings LLC lessened its holdings in shares of Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) by 8.4% in the 1st quarter, Holdings Channel.com reports. The firm owned 1,471,026 shares of the company’s stock after selling 134,443 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Abrdn Australia Equity Fund were worth $17,829,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in IAF. PNC Financial Services Group Inc. acquired a new stake in Abrdn Australia Equity Fund in the 4th quarter valued at approximately $78,000. Bank of America Corp DE increased its position in Abrdn Australia Equity Fund by 64.8% in the 2nd quarter. Bank of America Corp DE now owns 12,121 shares of the company’s stock worth $54,000 after buying an additional 4,765 shares during the period. Citadel Advisors LLC acquired a new position in shares of Abrdn Australia Equity Fund during the third quarter worth approximately $86,000. NWF Advisory Services Inc. acquired a new position in shares of Abrdn Australia Equity Fund during the fourth quarter worth approximately $446,000. Finally, Osaic Holdings Inc. boosted its position in shares of Abrdn Australia Equity Fund by 5.0% in the second 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 during the period.

Abrdn Australia Equity Fund Price Performance

IAF opened at $12.59 on Wednesday. The business has a 50 day moving average of $12.51 and a 200-day moving average of $12.93. Abrdn Australia Equity Fund Inc has a 1-year low of $11.76 and a 1-year 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. Investors of record on Thursday, May 21st were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 11.4%. The ex-dividend date was Thursday, May 21st.

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.