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 March. As of March 15th, there was short interest totalling 67,300 shares, a growth of 72.6% from the February 28th total of 39,000 shares. Based on an average daily trading volume, of 67,200 shares, the days-to-cover ratio is currently 1.0 days.

Abrdn Australia Equity Fund Stock Down 0.2 %

Shares of NYSEAMERICAN:IAF opened at $4.06 on Monday. Abrdn Australia Equity Fund has a 1-year low of $3.90 and a 1-year high of $4.75. The business’s 50 day simple moving average is $4.20.

Abrdn Australia Equity Fund Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 21st will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 11.82%. The ex-dividend date is Friday, February 21st.

Institutional Trading of Abrdn Australia Equity Fund

Hedge funds have recently bought and sold shares of the company. Cetera Investment Advisers boosted its position in shares of Abrdn Australia Equity Fund by 3.8% in the fourth quarter. Cetera Investment Advisers now owns 658,538 shares of the company’s stock worth $2,759,000 after buying an additional 24,068 shares during the period. Citadel Advisors LLC boosted its position in Abrdn Australia Equity Fund by 11.1% during the 4th quarter. Citadel Advisors LLC now owns 23,755 shares of the company’s stock worth $100,000 after acquiring an additional 2,365 shares during the period. 1607 Capital Partners LLC grew its stake in Abrdn Australia Equity Fund by 1.1% during the 4th quarter. 1607 Capital Partners LLC now owns 2,301,525 shares of the company’s stock valued at $9,644,000 after acquiring an additional 24,712 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Abrdn Australia Equity Fund in the 4th quarter valued at about $127,000. Finally, Wells Fargo & Company MN lifted its position in shares of Abrdn Australia Equity Fund by 28.6% in the fourth quarter. Wells Fargo & Company MN now owns 15,263 shares of the company’s stock worth $64,000 after purchasing an additional 3,397 shares in 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.