Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) Sees Significant Decrease in Short Interest

Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) was the recipient of a large decrease in short interest during the month of November. As of November 30th, there was short interest totalling 15,600 shares, a decrease of 54.7% from the November 15th total of 34,400 shares. Based on an average daily volume of 68,300 shares, the short-interest ratio is presently 0.2 days.

Institutional Trading of Abrdn Australia Equity Fund

A number of hedge funds have recently modified their holdings of IAF. Covenant Partners LLC purchased a new stake in shares of Abrdn Australia Equity Fund during the 3rd quarter worth about $52,000. Cetera Advisors LLC acquired a new stake in Abrdn Australia Equity Fund in the first quarter valued at approximately $97,000. International Assets Investment Management LLC purchased a new stake in shares of Abrdn Australia Equity Fund in the third quarter valued at approximately $137,000. Wolverine Asset Management LLC raised its stake in shares of Abrdn Australia Equity Fund by 369.2% during the 3rd 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 during the period. Finally, Atria Wealth Solutions Inc. lifted its position in shares of Abrdn Australia Equity Fund by 3.6% during the 2nd quarter. Atria Wealth Solutions Inc. now owns 588,881 shares of the company’s stock valued at $2,550,000 after buying an additional 20,678 shares in the last quarter.

Abrdn Australia Equity Fund Stock Down 0.2 %

Shares of NYSEAMERICAN IAF traded down $0.01 during midday trading on Friday, reaching $4.34. The company had a trading volume of 41,023 shares, compared to its average volume of 64,742. Abrdn Australia Equity Fund has a 1 year low of $3.95 and a 1 year high of $4.75.

Abrdn Australia Equity Fund Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Thursday, November 21st will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Thursday, November 21st. This is an increase from Abrdn Australia Equity Fund’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a yield of 11.98%.

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.