Short Interest in Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) Increases By 77.2%

Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) was the recipient of a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 59,000 shares, an increase of 77.2% from the December 15th total of 33,300 shares. Based on an average daily volume of 72,100 shares, the days-to-cover ratio is currently 0.8 days.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Wolverine Asset Management LLC boosted its holdings in shares of Abrdn Australia Equity Fund by 369.2% in the third quarter. Wolverine Asset Management LLC now owns 32,799 shares of the company’s stock valued at $154,000 after acquiring an additional 25,808 shares in the last quarter. Covenant Partners LLC acquired a new stake in Abrdn Australia Equity Fund in the third quarter valued at about $52,000. International Assets Investment Management LLC purchased a new stake in Abrdn Australia Equity Fund in the 3rd quarter valued at approximately $137,000. Finally, Allspring Global Investments Holdings LLC increased its position in Abrdn Australia Equity Fund by 8.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,898,703 shares of the company’s stock worth $13,653,000 after purchasing an additional 223,926 shares during the period.

Abrdn Australia Equity Fund Price Performance

Shares of IAF opened at $4.36 on Friday. Abrdn Australia Equity Fund has a 12-month low of $3.95 and a 12-month high of $4.75.

Abrdn Australia Equity Fund Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Thursday, November 21st were given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 11.93%. The ex-dividend date was Thursday, November 21st. This is a boost from Abrdn Australia Equity Fund’s previous quarterly dividend of $0.12.

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.