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 March. As of March 15th, there was short interest totalling 67,300 shares, an increase of 72.6% from the February 28th total of 39,000 shares. Based on an average trading volume of 67,200 shares, the days-to-cover ratio is currently 1.0 days.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC raised its holdings in Abrdn Australia Equity Fund by 16.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,384,336 shares of the company’s stock valued at $14,181,000 after buying an additional 485,633 shares during the last quarter. Atria Wealth Solutions Inc. bought a new position in shares of Abrdn Australia Equity Fund during the fourth quarter valued at $100,000. Chatham Capital Group Inc. acquired a new position in shares of Abrdn Australia Equity Fund during the fourth quarter worth $68,000. Wolverine Asset Management LLC lifted its holdings in shares of Abrdn Australia Equity Fund by 167.3% during the fourth quarter. Wolverine Asset Management LLC now owns 87,675 shares of the company’s stock worth $367,000 after purchasing an additional 54,876 shares during the period. Finally, Citadel Advisors LLC grew its stake in shares of Abrdn Australia Equity Fund by 11.1% in the fourth quarter. Citadel Advisors LLC now owns 23,755 shares of the company’s stock worth $100,000 after purchasing an additional 2,365 shares during the last quarter.

Abrdn Australia Equity Fund Trading Down 0.2 %

Shares of IAF traded down $0.01 during mid-day trading on Friday, reaching $4.06. The company had a trading volume of 93,503 shares, compared to its average volume of 58,873. The business’s 50 day moving average price is $4.20. 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 announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 21st will be paid a dividend of $0.12 per share. The ex-dividend date is Friday, February 21st. This represents a $0.48 dividend on an annualized basis and a dividend yield of 11.82%.

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.