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

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

Hedge Funds Weigh In On Abrdn Australia Equity Fund

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Covenant Partners LLC bought a new stake in Abrdn Australia Equity Fund during the 3rd quarter worth approximately $52,000. International Assets Investment Management LLC acquired a new position in shares of Abrdn Australia Equity Fund during the third quarter worth $137,000. Wolverine Asset Management LLC lifted its holdings in shares of 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 purchasing an additional 25,808 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Abrdn Australia Equity Fund by 7.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,674,777 shares of the company’s stock worth $11,582,000 after purchasing an additional 174,918 shares during the last quarter.

Abrdn Australia Equity Fund Stock Down 1.2 %

Shares of NYSEAMERICAN IAF traded down $0.05 during midday trading on Friday, reaching $4.25. 61,137 shares of the company were exchanged, compared to its average volume of 64,731. 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 company also recently disclosed 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 represents a $0.52 dividend on an annualized basis and a yield of 12.24%. This is a positive change from Abrdn Australia Equity Fund’s previous quarterly dividend of $0.12.

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.