Golden State Wealth Management LLC Grows Position in Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF)

Golden State Wealth Management LLC increased its position in shares of Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) by 105.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,218 shares of the company’s stock after purchasing an additional 4,742 shares during the period. Golden State Wealth Management LLC’s holdings in Abrdn Australia Equity Fund were worth $37,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. 1607 Capital Partners LLC boosted its position in shares of Abrdn Australia Equity Fund by 1.1% in the fourth quarter. 1607 Capital Partners LLC now owns 2,301,525 shares of the company’s stock worth $9,644,000 after buying an additional 24,712 shares during the period. Cetera Investment Advisers boosted its stake in Abrdn Australia Equity Fund by 3.8% in the fourth quarter. Cetera Investment Advisers now owns 658,538 shares of the company’s stock valued at $2,759,000 after buying an additional 24,068 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Abrdn Australia Equity Fund during the 4th quarter worth $127,000. Citadel Advisors LLC boosted its holdings in shares of Abrdn Australia Equity Fund by 11.1% in the 4th quarter. Citadel Advisors LLC now owns 23,755 shares of the company’s stock worth $100,000 after purchasing an additional 2,365 shares in the last quarter. Finally, Chatham Capital Group Inc. purchased a new stake in Abrdn Australia Equity Fund during the 4th quarter valued at about $68,000.

Abrdn Australia Equity Fund Stock Performance

NYSEAMERICAN:IAF opened at $4.51 on Thursday. Abrdn Australia Equity Fund Inc has a twelve month low of $3.35 and a twelve month high of $4.75. The stock has a fifty day simple moving average of $4.34 and a 200-day simple moving average of $4.22.

Abrdn Australia Equity Fund Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Thursday, May 22nd were issued a $0.12 dividend. The ex-dividend date was Thursday, May 22nd. This represents a $0.48 dividend on an annualized basis and a yield of 10.64%.

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.