Short Interest in Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) Grows By 113.5%

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

Institutional Trading of Abrdn Australia Equity Fund

Several hedge funds and other institutional investors have recently modified their holdings of IAF. Allspring Global Investments Holdings LLC lifted its stake in Abrdn Australia Equity Fund by 8.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,898,703 shares of the company’s stock valued at $13,653,000 after acquiring an additional 223,926 shares during the last quarter. Wolverine Asset Management LLC lifted its position 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 last quarter. International Assets Investment Management LLC acquired a new position in shares of Abrdn Australia Equity Fund during the 3rd quarter worth approximately $137,000. Finally, Covenant Partners LLC acquired a new stake in shares of Abrdn Australia Equity Fund during the 3rd quarter worth about $52,000.

Abrdn Australia Equity Fund Trading Down 1.2 %

Shares of Abrdn Australia Equity Fund stock traded down $0.05 on Friday, hitting $4.25. 61,137 shares of the company’s stock traded hands, 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 firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Thursday, November 21st will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 12.24%. This is a boost from Abrdn Australia Equity Fund’s previous quarterly dividend of $0.12. The ex-dividend date is Thursday, November 21st.

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.