Allspring Global Investments Holdings LLC Cuts Stock Position in Abrdn Australia Equity Fund Inc $IAF

Allspring Global Investments Holdings LLC decreased its holdings in shares of Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) by 64.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,605,469 shares of the company’s stock after selling 2,884,659 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Abrdn Australia Equity Fund were worth $20,743,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Bank of America Corp DE raised its holdings in shares of Abrdn Australia Equity Fund by 64.8% during the 2nd quarter. Bank of America Corp DE now owns 12,121 shares of the company’s stock valued at $54,000 after buying an additional 4,765 shares during the period. Citadel Advisors LLC acquired a new position in shares of Abrdn Australia Equity Fund during the third quarter worth $86,000. Bridgewealth Advisory Group LLC boosted its stake in shares of 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. NWF Advisory Services Inc. grew its holdings in Abrdn Australia Equity Fund by 2.7% during the 2nd quarter. NWF Advisory Services Inc. now owns 100,989 shares of the company’s stock valued at $451,000 after purchasing an additional 2,661 shares in the last quarter. Finally, Osaic Holdings Inc. grew its holdings in Abrdn Australia Equity Fund by 5.0% during the 2nd quarter. Osaic Holdings Inc. now owns 122,535 shares of the company’s stock valued at $548,000 after purchasing an additional 5,818 shares in the last quarter.

Abrdn Australia Equity Fund Stock Performance

Shares of Abrdn Australia Equity Fund stock opened at $12.24 on Friday. Abrdn Australia Equity Fund Inc has a 1-year low of $10.05 and a 1-year high of $14.54. The business has a 50-day moving average of $13.32 and a 200-day moving average of $13.26.

Abrdn Australia Equity Fund Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Friday, February 20th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 11.8%. The ex-dividend date was Friday, February 20th.

Abrdn Australia Equity Fund Company 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.