Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) Short Interest Update

Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) saw a large growth in short interest in the month of December. As of December 15th, there was short interest totalling 33,300 shares, a growth of 113.5% from the November 30th total of 15,600 shares. Based on an average trading volume of 71,800 shares, the days-to-cover ratio is currently 0.5 days.

Institutional Investors Weigh In On Abrdn Australia Equity Fund

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IAF. Allspring Global Investments Holdings LLC boosted its position in shares of Abrdn Australia Equity Fund by 8.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,898,703 shares of the company’s stock valued at $13,653,000 after purchasing an additional 223,926 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in Abrdn Australia Equity Fund during the third quarter valued at approximately $137,000. Wolverine Asset Management LLC boosted its holdings in Abrdn Australia Equity Fund by 369.2% during the third quarter. Wolverine Asset Management LLC now owns 32,799 shares of the company’s stock worth $154,000 after buying an additional 25,808 shares in the last quarter. Finally, Covenant Partners LLC acquired a new position in Abrdn Australia Equity Fund in the third quarter worth approximately $52,000.

Abrdn Australia Equity Fund Trading Down 1.4 %

IAF traded down $0.06 on Friday, reaching $4.24. The company had a trading volume of 34,537 shares, compared to its average volume of 64,623. Abrdn Australia Equity Fund has a one year low of $3.95 and a one year high of $4.75.

Abrdn Australia Equity Fund Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Thursday, November 21st will be issued a $0.13 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This is a boost from Abrdn Australia Equity Fund’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a dividend yield of 12.26%.

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.