10,993 Shares in Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) Purchased by Covenant Partners LLC

Covenant Partners LLC acquired a new stake in Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) during the third quarter, Holdings Channel reports. The firm acquired 10,993 shares of the company’s stock, valued at approximately $52,000.

Several other institutional investors have also added to or reduced their stakes in the business. Cetera Advisors LLC bought a new position in shares of Abrdn Australia Equity Fund in the first quarter worth $97,000. International Assets Investment Management LLC purchased a new stake in Abrdn Australia Equity Fund during the 3rd quarter worth about $137,000. Karpus Management Inc. boosted its stake in Abrdn Australia Equity Fund by 267.2% in the 1st quarter. Karpus Management Inc. now owns 52,625 shares of the company’s stock worth $224,000 after purchasing an additional 38,295 shares during the period. Atria Wealth Solutions Inc. grew its holdings in Abrdn Australia Equity Fund by 3.6% during the 2nd quarter. Atria Wealth Solutions Inc. now owns 588,881 shares of the company’s stock valued at $2,550,000 after buying an additional 20,678 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Abrdn Australia Equity Fund by 46.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,499,859 shares of the company’s stock worth $10,649,000 after buying an additional 790,758 shares in the last quarter.

Abrdn Australia Equity Fund Stock Performance

Shares of IAF stock traded up $0.01 during trading hours on Friday, reaching $4.47. The stock had a trading volume of 101,135 shares, compared to its average volume of 64,632. Abrdn Australia Equity Fund Inc has a 12 month low of $3.60 and a 12 month high of $4.75.

Abrdn Australia Equity Fund Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, August 23rd were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 10.74%. The ex-dividend date of this dividend was Friday, August 23rd.

About Abrdn Australia Equity Fund

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.