Short Interest in Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) Increases By 457.1%

Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) was the target of a large increase in short interest in February. As of February 28th, there was short interest totalling 39,000 shares, an increase of 457.1% from the February 13th total of 7,000 shares. Based on an average daily trading volume, of 74,000 shares, the days-to-cover ratio is currently 0.5 days.

Institutional Investors Weigh In On Abrdn Australia Equity Fund

Large investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC grew its holdings in Abrdn Australia Equity Fund by 16.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,384,336 shares of the company’s stock worth $14,181,000 after acquiring an additional 485,633 shares during the last quarter. Atria Wealth Solutions Inc. bought a new stake in shares of Abrdn Australia Equity Fund during the fourth quarter valued at approximately $100,000. Wolverine Asset Management LLC increased 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 purchasing an additional 25,808 shares in the last quarter. Chatham Capital Group Inc. bought a new position in Abrdn Australia Equity Fund in the 4th quarter worth approximately $68,000. Finally, Citadel Advisors LLC lifted its holdings in Abrdn Australia Equity Fund by 11.1% during the 4th quarter. Citadel Advisors LLC now owns 23,755 shares of the company’s stock worth $100,000 after buying an additional 2,365 shares in the last quarter.

Abrdn Australia Equity Fund Stock Performance

Shares of NYSEAMERICAN:IAF traded down $0.04 on Wednesday, hitting $4.00. The stock had a trading volume of 45,073 shares, compared to its average volume of 74,825. The company has a 50 day moving average of $4.22. Abrdn Australia Equity Fund has a twelve month low of $3.99 and a twelve month high of $4.75.

Abrdn Australia Equity Fund Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 21st will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 12.00%. The ex-dividend date of this dividend is Friday, February 21st.

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.