Short Interest in Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) Rises By 43.5%

Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) saw a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 19,800 shares, a growth of 43.5% from the October 15th total of 13,800 shares. Based on an average trading volume of 59,900 shares, the short-interest ratio is presently 0.3 days.

Hedge Funds Weigh In On Abrdn Australia Equity Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IAF. Covenant Partners LLC acquired a new position in shares of Abrdn Australia Equity Fund during the 3rd quarter worth about $52,000. Cetera Advisors LLC acquired a new position in shares of Abrdn Australia Equity Fund during the 1st quarter worth about $97,000. International Assets Investment Management LLC acquired a new position in shares of Abrdn Australia Equity Fund during the 3rd quarter worth about $137,000. Wolverine Asset Management LLC boosted its stake in shares of Abrdn Australia Equity Fund by 369.2% during the 3rd quarter. Wolverine Asset Management LLC now owns 32,799 shares of the company’s stock worth $154,000 after buying an additional 25,808 shares during the last quarter. Finally, Karpus Management Inc. boosted its stake in shares of Abrdn Australia Equity Fund by 267.2% during the 1st quarter. Karpus Management Inc. now owns 52,625 shares of the company’s stock worth $224,000 after buying an additional 38,295 shares during the last quarter.

Abrdn Australia Equity Fund Price Performance

Shares of IAF remained flat at $4.50 during trading hours on Friday. 35,528 shares of the company were exchanged, compared to its average volume of 64,556. Abrdn Australia Equity Fund has a 1-year low of $3.87 and a 1-year high of $4.75.

Abrdn Australia Equity Fund Increases Dividend

The business 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 $0.13 dividend. The ex-dividend date is Thursday, November 21st. This is a positive change from Abrdn Australia Equity Fund’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a yield of 11.56%.

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.