1607 Capital Partners LLC Sells 1,330,717 Shares of Abrdn Australia Equity Fund Inc $IAF

1607 Capital Partners LLC cut its position in Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) by 68.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 612,319 shares of the company’s stock after selling 1,330,717 shares during the period. 1607 Capital Partners LLC’s holdings in Abrdn Australia Equity Fund were worth $7,911,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of IAF. Bank of America Corp DE raised its position in Abrdn Australia Equity Fund by 164.3% in the third quarter. Bank of America Corp DE now owns 32,032 shares of the company’s stock valued at $147,000 after purchasing an additional 19,911 shares during the last quarter. Citadel Advisors LLC bought a new position in Abrdn Australia Equity Fund in the third quarter valued at about $86,000. PNC Financial Services Group Inc. bought a new position in Abrdn Australia Equity Fund in the fourth quarter valued at about $78,000. Finally, Osaic Holdings Inc. raised its position in 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 purchasing an additional 5,818 shares during the last quarter.

Abrdn Australia Equity Fund Stock Performance

Shares of IAF opened at $12.48 on Thursday. Abrdn Australia Equity Fund Inc has a 1 year low of $11.76 and a 1 year high of $14.54. The business has a 50-day moving average of $12.72 and a 200-day moving average of $13.00.

Abrdn Australia Equity Fund Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Thursday, May 21st will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 11.5%. The ex-dividend date is Thursday, May 21st.

About Abrdn Australia Equity Fund

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.