Short Interest in Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) Drops By 27.4%

Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) was the target of a significant decline in short interest in the month of August. As of August 31st, there was short interest totalling 24,400 shares, a decline of 27.4% from the August 15th total of 33,600 shares. Based on an average daily trading volume, of 41,900 shares, the short-interest ratio is presently 0.6 days.

Abrdn Australia Equity Fund Stock Up 1.5 %

NYSEAMERICAN IAF opened at $4.59 on Tuesday. Abrdn Australia Equity Fund has a 12 month low of $3.60 and a 12 month high of $4.59.

Abrdn Australia Equity Fund Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, August 23rd will be paid a $0.12 dividend. The ex-dividend date is Friday, August 23rd. This represents a $0.48 dividend on an annualized basis and a yield of 10.46%.

Institutional Trading of Abrdn Australia Equity Fund

Several institutional investors and hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC lifted its stake in shares of Abrdn Australia Equity Fund by 7.0% during the 2nd 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. Atria Wealth Solutions Inc. boosted its stake 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 valued at $2,550,000 after acquiring an additional 20,678 shares in the last quarter. Karpus Management Inc. grew its holdings 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. Finally, Cetera Advisors LLC acquired a new position in shares of Abrdn Australia Equity Fund during the first quarter worth $97,000.

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.