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

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

Abrdn Australia Equity Fund Stock Performance

NYSEAMERICAN:IAF traded down $0.01 during mid-day trading on Friday, reaching $4.34. The stock had a trading volume of 41,023 shares, 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 company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Thursday, November 21st will be given a $0.13 dividend. This is an increase from Abrdn Australia Equity Fund’s previous quarterly dividend of $0.12. The ex-dividend date is Thursday, November 21st. This represents a $0.52 dividend on an annualized basis and a yield of 11.98%.

Institutional Trading of Abrdn Australia Equity Fund

A number of hedge funds have recently bought and sold shares of IAF. Covenant Partners LLC purchased a new position in Abrdn Australia Equity Fund in the 3rd quarter worth approximately $52,000. Cetera Advisors LLC purchased a new position in Abrdn Australia Equity Fund in the 1st quarter worth approximately $97,000. International Assets Investment Management LLC purchased a new position in Abrdn Australia Equity Fund in the 3rd quarter worth approximately $137,000. Wolverine Asset Management LLC increased its stake in Abrdn Australia Equity Fund by 369.2% in the 3rd quarter. Wolverine Asset Management LLC now owns 32,799 shares of the company’s stock worth $154,000 after purchasing an additional 25,808 shares during the period. Finally, Atria Wealth Solutions Inc. increased 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 worth $2,550,000 after purchasing an additional 20,678 shares during the period.

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.