Short Interest in Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) Declines By 5.7%

Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) was the recipient of a significant drop in short interest during the month of September. As of September 30th, there was short interest totalling 15,000 shares, a drop of 5.7% from the September 15th total of 15,900 shares. Based on an average daily trading volume, of 48,100 shares, the short-interest ratio is presently 0.3 days.

Abrdn Australia Equity Fund Stock Performance

Abrdn Australia Equity Fund stock opened at $4.60 on Thursday. Abrdn Australia Equity Fund has a 1 year low of $3.60 and a 1 year high of $4.75.

Abrdn Australia Equity Fund Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, August 23rd were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 10.43%. The ex-dividend date of this dividend was Friday, August 23rd.

Institutional Investors Weigh In On Abrdn Australia Equity Fund

Several large investors have recently bought and sold shares of IAF. Cetera Advisors LLC bought a new stake in Abrdn Australia Equity Fund in the first quarter worth $97,000. Karpus Management Inc. increased its position in Abrdn Australia Equity Fund by 267.2% in the first quarter. Karpus Management Inc. now owns 52,625 shares of the company’s stock worth $224,000 after purchasing an additional 38,295 shares during the last quarter. Atria Wealth Solutions Inc. increased its position in Abrdn Australia Equity Fund by 3.6% in the second quarter. Atria Wealth Solutions Inc. now owns 588,881 shares of the company’s stock worth $2,550,000 after purchasing an additional 20,678 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in Abrdn Australia Equity Fund by 46.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,499,859 shares of the company’s stock valued at $10,649,000 after acquiring an additional 790,758 shares during the last quarter.

Abrdn Australia Equity Fund Company Profile

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.