Short Interest in Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) Grows By 70.7%

Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) was the target of a large increase in short interest in February. As of February 15th, there was short interest totalling 7,000 shares, an increase of 70.7% from the January 31st total of 4,100 shares. Based on an average daily volume of 70,200 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Trading of Abrdn Australia Equity Fund

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Arete Wealth Advisors LLC purchased a new stake in Abrdn Australia Equity Fund in the 4th quarter worth approximately $45,000. Wells Fargo & Company MN boosted its position in shares of Abrdn Australia Equity Fund by 28.6% in the fourth quarter. Wells Fargo & Company MN now owns 15,263 shares of the company’s stock worth $64,000 after purchasing an additional 3,397 shares during the period. Chatham Capital Group Inc. purchased a new stake in shares of Abrdn Australia Equity Fund in the fourth quarter worth $68,000. Atria Wealth Solutions Inc. bought a new stake in shares of Abrdn Australia Equity Fund during the 4th quarter valued at $100,000. Finally, Citadel Advisors LLC lifted its stake in shares of Abrdn Australia Equity Fund by 11.1% during the 4th quarter. Citadel Advisors LLC now owns 23,755 shares of the company’s stock valued at $100,000 after buying an additional 2,365 shares in the last quarter.

Abrdn Australia Equity Fund Stock Performance

IAF stock traded down $0.05 on Tuesday, hitting $4.07. The company had a trading volume of 19,021 shares, compared to its average volume of 74,549. Abrdn Australia Equity Fund has a 12-month low of $4.01 and a 12-month high of $4.75.

Abrdn Australia Equity Fund Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 21st will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 11.81%. The ex-dividend date of this dividend is Friday, February 21st.

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.