Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) Short Interest Up 43.5% in October

Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) was the recipient of a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 19,800 shares, an increase of 43.5% from the October 15th total of 13,800 shares. Based on an average daily trading volume, of 59,900 shares, the short-interest ratio is currently 0.3 days.

Abrdn Australia Equity Fund Price Performance

NYSEAMERICAN IAF remained flat at $4.50 during trading on Friday. 35,528 shares of the company’s stock traded hands, compared to its average volume of 64,556. Abrdn Australia Equity Fund has a twelve month low of $3.87 and a twelve month high of $4.75.

Abrdn Australia Equity Fund Increases Dividend

The firm also recently disclosed 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. This represents a $0.52 annualized dividend and a yield of 11.56%. This is a positive change from Abrdn Australia Equity Fund’s previous quarterly dividend of $0.12. The ex-dividend date is Thursday, November 21st.

Institutional Investors 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 purchased a new stake in Abrdn Australia Equity Fund in the third quarter valued at about $52,000. Cetera Advisors LLC purchased a new position in shares of Abrdn Australia Equity Fund in the 1st quarter valued at approximately $97,000. International Assets Investment Management LLC acquired a new stake in Abrdn Australia Equity Fund in the 3rd quarter worth approximately $137,000. Wolverine Asset Management LLC grew its position in 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 purchasing an additional 25,808 shares during the last quarter. Finally, Karpus Management Inc. increased its stake in Abrdn Australia Equity Fund by 267.2% during the 1st quarter. Karpus Management Inc. now owns 52,625 shares of the company’s stock valued at $224,000 after purchasing an additional 38,295 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.