Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) Sees Large Decline in Short Interest

Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAFGet Free Report) was the recipient of a large drop in short interest in the month of August. As of August 31st, there was short interest totalling 7,500 shares, a drop of 42.3% from the August 15th total of 13,000 shares. Based on an average daily volume of 47,700 shares, the days-to-cover ratio is currently 0.2 days.

Hedge Funds Weigh In On Abrdn Australia Equity Fund

Hedge funds have recently modified their holdings of the stock. Cetera Investment Advisers raised its holdings in Abrdn Australia Equity Fund by 22.3% during the first quarter. Cetera Investment Advisers now owns 42,414 shares of the company’s stock worth $267,000 after acquiring an additional 7,741 shares in the last quarter. Royal Bank of Canada raised its holdings in Abrdn Australia Equity Fund by 519.7% during the third quarter. Royal Bank of Canada now owns 8,856 shares of the company’s stock worth $35,000 after acquiring an additional 7,427 shares in the last quarter. Belpointe Asset Management LLC bought a new stake in Abrdn Australia Equity Fund during the fourth quarter worth about $42,000. Advisor Group Holdings Inc. increased its position in Abrdn Australia Equity Fund by 18.7% during the fourth quarter. Advisor Group Holdings Inc. now owns 96,161 shares of the company’s stock worth $422,000 after buying an additional 15,138 shares during the last quarter. Finally, City of London Investment Management Co. Ltd. acquired a new position in Abrdn Australia Equity Fund during the fourth quarter worth approximately $144,000.

Abrdn Australia Equity Fund Trading Up 4.0 %

IAF opened at $4.18 on Friday. Abrdn Australia Equity Fund has a 1 year low of $3.74 and a 1 year high of $5.24.

Abrdn Australia Equity Fund Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Thursday, August 24th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 11.48%. The ex-dividend date is Wednesday, August 23rd.

Abrdn Australia Equity Fund Company Profile

(Get Free Report)

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.

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