Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) Short Interest Update

Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) was the recipient of 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 days-to-cover ratio is presently 0.5 days.

Abrdn Australia Equity Fund Stock Down 1.2 %

NYSEAMERICAN:IAF traded down $0.05 during trading hours on Friday, hitting $4.25. The company’s stock had a trading volume of 61,137 shares, compared to its average volume of 64,731. Abrdn Australia Equity Fund has a twelve month low of $3.95 and a twelve month high of $4.75.

Abrdn Australia Equity Fund Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Thursday, November 21st will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Thursday, November 21st. This is a positive change from Abrdn Australia Equity Fund’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a dividend yield of 12.24%.

Hedge Funds Weigh In On Abrdn Australia Equity Fund

A number of institutional investors have recently added to or reduced their stakes in IAF. Covenant Partners LLC bought a new stake in Abrdn Australia Equity Fund during the 3rd quarter worth $52,000. International Assets Investment Management LLC bought a new stake in shares of Abrdn Australia Equity Fund during the third quarter worth about $137,000. Wolverine Asset Management LLC increased its stake in shares of Abrdn Australia Equity Fund by 369.2% in the third quarter. Wolverine Asset Management LLC now owns 32,799 shares of the company’s stock valued at $154,000 after buying an additional 25,808 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in Abrdn Australia Equity Fund by 7.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,674,777 shares of the company’s stock valued at $11,582,000 after buying an additional 174,918 shares during the last quarter.

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.