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

Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) was the recipient of a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 59,000 shares, an increase of 77.2% from the December 15th total of 33,300 shares. Based on an average daily volume of 72,100 shares, the short-interest ratio is presently 0.8 days.

Abrdn Australia Equity Fund Stock Down 0.2 %

Shares of Abrdn Australia Equity Fund stock opened at $4.36 on Friday. 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 company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Thursday, November 21st were given a $0.13 dividend. The ex-dividend date of this dividend was Thursday, November 21st. This is an increase from Abrdn Australia Equity Fund’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a dividend yield of 11.93%.

Institutional Investors Weigh In On Abrdn Australia Equity Fund

Institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC raised its position in shares of Abrdn Australia Equity Fund by 8.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,898,703 shares of the company’s stock worth $13,653,000 after acquiring an additional 223,926 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Abrdn Australia Equity Fund during the 3rd quarter worth approximately $137,000. Covenant Partners LLC acquired a new position in shares of Abrdn Australia Equity Fund in the 3rd quarter valued at $52,000. Finally, Wolverine Asset Management LLC boosted its holdings in shares of Abrdn Australia Equity Fund by 369.2% in the 3rd 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 in 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.