Abrdn Australia Equity Fund (NYSEAMERICAN:IAF) Shares Scheduled to Reverse Split on Thursday, October 23rd

Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF)’s stock is going to reverse split on the morning of Thursday, October 23rd. The 1-3 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, October 22nd.

Abrdn Australia Equity Fund Trading Down 2.4%

NYSEAMERICAN IAF opened at $4.44 on Friday. The stock has a 50-day simple moving average of $4.60 and a 200 day simple moving average of $4.38. Abrdn Australia Equity Fund has a 12 month low of $3.35 and a 12 month high of $4.71.

Abrdn Australia Equity Fund Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Friday, August 22nd were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 10.8%. The ex-dividend date was Friday, August 22nd.

Institutional Investors Weigh In On Abrdn Australia Equity Fund

Several large investors have recently modified their holdings of the business. NWF Advisory Services Inc. increased its holdings in shares of Abrdn Australia Equity Fund by 2.7% in the second quarter. NWF Advisory Services Inc. now owns 100,989 shares of the company’s stock worth $451,000 after acquiring an additional 2,661 shares in the last quarter. Osaic Holdings Inc. increased its holdings 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 worth $548,000 after acquiring an additional 5,818 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Abrdn Australia Equity Fund by 64.8% in the second quarter. Bank of America Corp DE now owns 12,121 shares of the company’s stock worth $54,000 after acquiring an additional 4,765 shares in the last quarter. Cetera Investment Advisers increased its holdings in shares of Abrdn Australia Equity Fund by 4.2% in the second quarter. Cetera Investment Advisers now owns 718,084 shares of the company’s stock worth $3,210,000 after acquiring an additional 28,921 shares in the last quarter. Finally, Shaker Financial Services LLC increased its holdings in shares of Abrdn Australia Equity Fund by 16.0% in the second quarter. Shaker Financial Services LLC now owns 87,045 shares of the company’s stock worth $389,000 after acquiring an additional 12,000 shares in the last quarter.

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.