Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) Short Interest Up 70.7% in February

Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) was the target of a large growth in short interest during the month of February. As of February 15th, there was short interest totalling 7,000 shares, a growth of 70.7% from the January 31st total of 4,100 shares. Based on an average daily volume of 70,200 shares, the short-interest ratio is currently 0.1 days.

Institutional Investors Weigh In On Abrdn Australia Equity Fund

A number of hedge funds have recently bought and sold shares of IAF. Arete Wealth Advisors LLC bought a new stake in shares of Abrdn Australia Equity Fund in the 4th quarter valued at approximately $45,000. Wells Fargo & Company MN lifted its position in Abrdn Australia Equity Fund by 28.6% in the fourth quarter. Wells Fargo & Company MN now owns 15,263 shares of the company’s stock worth $64,000 after buying an additional 3,397 shares during the last quarter. Chatham Capital Group Inc. purchased a new position in Abrdn Australia Equity Fund during the fourth quarter worth $68,000. Atria Wealth Solutions Inc. bought a new position in Abrdn Australia Equity Fund during the fourth quarter valued at $100,000. Finally, Citadel Advisors LLC increased its position in Abrdn Australia Equity Fund by 11.1% during the fourth quarter. Citadel Advisors LLC now owns 23,755 shares of the company’s stock valued at $100,000 after acquiring an additional 2,365 shares during the last quarter.

Abrdn Australia Equity Fund Stock Performance

NYSEAMERICAN IAF traded down $0.05 during trading on Tuesday, hitting $4.07. 19,021 shares of the stock traded hands, compared to its average volume of 74,549. Abrdn Australia Equity Fund has a 12-month low of $4.01 and a 12-month high of $4.75.

Abrdn Australia Equity Fund Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 21st will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 11.81%. The ex-dividend date of this dividend is Friday, February 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.