Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) Short Interest Down 54.7% in November

Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) was the target of a significant decline in short interest in November. As of November 30th, there was short interest totalling 15,600 shares, a decline of 54.7% from the November 15th total of 34,400 shares. Based on an average daily volume of 68,300 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Investors Weigh In On Abrdn Australia Equity Fund

A number of large investors have recently modified their holdings of IAF. Covenant Partners LLC acquired a new stake in shares of Abrdn Australia Equity Fund in the 3rd quarter valued at approximately $52,000. Atria Wealth Solutions Inc. lifted its stake in Abrdn Australia Equity Fund by 3.6% in the 2nd quarter. Atria Wealth Solutions Inc. now owns 588,881 shares of the company’s stock valued at $2,550,000 after purchasing an additional 20,678 shares during the last quarter. Cetera Advisors LLC acquired a new stake in Abrdn Australia Equity Fund in the first quarter valued at approximately $97,000. Wolverine Asset Management LLC grew its stake in shares of Abrdn Australia Equity Fund by 369.2% during the third 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, International Assets Investment Management LLC acquired a new position in shares of Abrdn Australia Equity Fund during the third quarter worth $137,000.

Abrdn Australia Equity Fund Stock Down 0.2 %

Shares of Abrdn Australia Equity Fund stock traded down $0.01 on Friday, reaching $4.34. 41,023 shares of the stock were exchanged, compared to its average volume of 64,742. Abrdn Australia Equity Fund has a one year low of $3.95 and a one year high of $4.75.

Abrdn Australia Equity Fund Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Thursday, November 21st will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Thursday, November 21st. This is a boost from Abrdn Australia Equity Fund’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 11.98%.

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.