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

Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) was the target of a large growth in short interest in March. As of March 31st, there was short interest totalling 82,900 shares, a growth of 23.2% from the March 15th total of 67,300 shares. Based on an average daily volume of 73,800 shares, the days-to-cover ratio is presently 1.1 days.

Abrdn Australia Equity Fund Price Performance

NYSEAMERICAN:IAF traded down $0.01 during trading hours on Monday, hitting $3.99. 35,268 shares of the company’s stock traded hands, compared to its average volume of 59,142. The business’s fifty day simple moving average is $4.06 and its two-hundred day simple moving average is $4.19. Abrdn Australia Equity Fund has a 52 week low of $3.35 and a 52 week high of $4.75.

Abrdn Australia Equity Fund Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, February 21st were paid a $0.12 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $0.48 dividend on an annualized basis and a yield of 12.03%.

Institutional Inflows and Outflows

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

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.