Short Interest in Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) Increases By 175.2%

Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) saw a large increase in short interest in the month of April. As of April 15th, there was short interest totalling 77,600 shares, an increase of 175.2% from the March 31st total of 28,200 shares. Based on an average daily volume of 95,200 shares, the days-to-cover ratio is currently 0.8 days.

Abrdn Australia Equity Fund Stock Down 0.5 %

Shares of NYSEAMERICAN IAF opened at $4.22 on Friday. Abrdn Australia Equity Fund has a 52-week low of $3.60 and a 52-week high of $4.55.

Abrdn Australia Equity Fund Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, February 22nd were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 11.37%. This is a boost from Abrdn Australia Equity Fund’s previous quarterly dividend of $0.11. The ex-dividend date was Wednesday, February 21st.

Hedge Funds Weigh In On Abrdn Australia Equity Fund

A number of hedge funds have recently modified their holdings of IAF. Allspring Global Investments Holdings LLC grew its holdings in shares of Abrdn Australia Equity Fund by 31.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,709,101 shares of the company’s stock valued at $7,400,000 after buying an additional 409,247 shares in the last quarter. Atria Wealth Solutions Inc. grew its holdings in shares of Abrdn Australia Equity Fund by 30.4% during the third quarter. Atria Wealth Solutions Inc. now owns 552,418 shares of the company’s stock valued at $2,182,000 after buying an additional 128,758 shares in the last quarter. Finally, 1607 Capital Partners LLC grew its holdings in shares of Abrdn Australia Equity Fund by 9.5% during the third quarter. 1607 Capital Partners LLC now owns 1,486,852 shares of the company’s stock valued at $5,873,000 after buying an additional 128,703 shares in the last quarter.

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.