1607 Capital Partners LLC Lowers Stock Holdings in Abrdn Australia Equity Fund Inc $IAF

1607 Capital Partners LLC cut its holdings in shares of Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) by 6.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,943,036 shares of the company’s stock after selling 140,479 shares during the quarter. 1607 Capital Partners LLC’s holdings in Abrdn Australia Equity Fund were worth $8,919,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in IAF. Cetera Investment Advisers increased its stake in shares of Abrdn Australia Equity Fund by 4.2% during the 2nd quarter. Cetera Investment Advisers now owns 718,084 shares of the company’s stock valued at $3,210,000 after acquiring an additional 28,921 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Abrdn Australia Equity Fund by 12.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 4,490,128 shares of the company’s stock worth $20,610,000 after acquiring an additional 499,359 shares during the last quarter. Osaic Holdings Inc. boosted its position 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 during the last quarter. Bank of America Corp DE grew its holdings in 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 valued at $54,000 after purchasing an additional 4,765 shares during the period. Finally, Bridgewealth Advisory Group LLC grew its holdings in Abrdn Australia Equity Fund by 2.6% in the third quarter. Bridgewealth Advisory Group LLC now owns 32,344 shares of the company’s stock valued at $148,000 after purchasing an additional 817 shares during the period.

Abrdn Australia Equity Fund Stock Down 0.4%

Shares of IAF stock opened at $12.67 on Friday. Abrdn Australia Equity Fund Inc has a one year low of $10.05 and a one year high of $14.54. The company has a 50 day moving average price of $13.61 and a 200 day moving average price of $13.43.

Abrdn Australia Equity Fund Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, February 20th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 11.4%. The ex-dividend date is Friday, February 20th.

Abrdn Australia Equity Fund Profile

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.