Wolverine Asset Management LLC Decreases Stake in Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF)

Posted by Defense World Staff on Aug 17th, 2023

Wolverine Asset Management LLC reduced its position in Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF – Free Report) by 95.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,388 shares of the company’s stock after selling 137,360 shares during the period. Wolverine Asset Management LLC’s holdings in Abrdn Australia Equity Fund were worth $28,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cyndeo Wealth Partners LLC purchased a new position in Abrdn Australia Equity Fund in the 1st quarter valued at about $50,000. DAVENPORT & Co LLC raised its stake in shares of Abrdn Australia Equity Fund by 6.2% in the 1st quarter. DAVENPORT & Co LLC now owns 141,254 shares of the company’s stock valued at $620,000 after purchasing an additional 8,195 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Abrdn Australia Equity Fund by 68.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 729,322 shares of the company’s stock valued at $3,202,000 after purchasing an additional 295,341 shares in the last quarter. Bridgewealth Advisory Group LLC acquired a new stake in shares of Abrdn Australia Equity Fund in the 4th quarter valued at about $102,000. Finally, Belvedere Trading LLC acquired a new stake in shares of Abrdn Australia Equity Fund in the 4th quarter valued at about $108,000.

Abrdn Australia Equity Fund Price Performance

Shares of Abrdn Australia Equity Fund stock opened at $4.11 on Thursday. Abrdn Australia Equity Fund Inc has a 1 year low of $3.74 and a 1 year high of $5.29.

Abrdn Australia Equity Fund Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Thursday, August 24th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $0.48 annualized dividend and a yield of 11.68%.

About Abrdn Australia Equity Fund

(Free Report)

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.