Aberdeen Australia Equity Fund, Inc. (NYSEAMERICAN:IAF) Short Interest Update

Aberdeen Australia Equity Fund, Inc. (NYSEAMERICAN:IAFGet Rating) was the recipient of a large decrease in short interest during the month of May. As of May 15th, there was short interest totalling 5,500 shares, a decrease of 69.8% from the April 30th total of 18,200 shares. Based on an average daily trading volume, of 67,700 shares, the days-to-cover ratio is currently 0.1 days.

Several institutional investors and hedge funds have recently modified their holdings of IAF. Morgan Stanley raised its position in shares of Aberdeen Australia Equity Fund by 60.2% in the 1st quarter. Morgan Stanley now owns 47,355 shares of the company’s stock worth $276,000 after buying an additional 17,804 shares during the period. Raymond James & Associates boosted its stake in Aberdeen Australia Equity Fund by 11.8% in the third quarter. Raymond James & Associates now owns 21,362 shares of the company’s stock valued at $126,000 after acquiring an additional 2,247 shares during the period. Advisor Group Holdings Inc. boosted its stake in Aberdeen Australia Equity Fund by 8.2% in the third quarter. Advisor Group Holdings Inc. now owns 71,652 shares of the company’s stock valued at $423,000 after acquiring an additional 5,451 shares during the period. Creative Planning acquired a new position in Aberdeen Australia Equity Fund in the third quarter valued at approximately $73,000. Finally, Wolverine Asset Management LLC bought a new stake in shares of Aberdeen Australia Equity Fund during the third quarter valued at approximately $78,000.

Shares of IAF stock traded down $0.05 during mid-day trading on Thursday, hitting $5.45. 789 shares of the company’s stock were exchanged, compared to its average volume of 80,247. Aberdeen Australia Equity Fund has a fifty-two week low of $5.05 and a fifty-two week high of $6.66.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Investors of record on Friday, May 20th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 11.01%. The ex-dividend date is Thursday, May 19th.

About Aberdeen Australia Equity Fund (Get Rating)

Aberdeen 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.

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