Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) Sees Significant Increase in Short Interest

Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) was the target of a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 39,000 shares, an increase of 457.1% from the February 13th total of 7,000 shares. Based on an average daily trading volume, of 74,000 shares, the short-interest ratio is currently 0.5 days.

Institutional Trading of Abrdn Australia Equity Fund

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Arete Wealth Advisors LLC purchased a new stake in shares of Abrdn Australia Equity Fund in the fourth quarter valued at about $45,000. Wells Fargo & Company MN lifted its holdings in shares of Abrdn Australia Equity Fund by 28.6% during the 4th quarter. Wells Fargo & Company MN now owns 15,263 shares of the company’s stock worth $64,000 after acquiring an additional 3,397 shares during the period. Chatham Capital Group Inc. acquired a new position in shares of Abrdn Australia Equity Fund in the 4th quarter valued at $68,000. Atria Wealth Solutions Inc. acquired a new stake in shares of Abrdn Australia Equity Fund in the fourth quarter valued at about $100,000. Finally, Citadel Advisors LLC lifted its position in Abrdn Australia Equity Fund by 11.1% during the 4th quarter. Citadel Advisors LLC now owns 23,755 shares of the company’s stock worth $100,000 after acquiring an additional 2,365 shares in the last quarter.

Abrdn Australia Equity Fund Trading Up 1.4 %

Shares of IAF traded up $0.06 during midday trading on Friday, reaching $4.02. The stock had a trading volume of 18,246 shares, compared to its average volume of 73,219. The business has a fifty day moving average price of $4.22. Abrdn Australia Equity Fund has a 1-year low of $3.90 and a 1-year high of $4.75.

Abrdn Australia Equity Fund Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 21st will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 11.96%. 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.