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 significant growth in short interest in the month of February. As of February 15th, there was short interest totalling 7,000 shares, a growth of 70.7% from the January 31st total of 4,100 shares. Based on an average daily volume of 70,200 shares, the short-interest ratio is currently 0.1 days.

Abrdn Australia Equity Fund Stock Up 0.2 %

NYSEAMERICAN IAF traded up $0.01 during trading on Monday, hitting $4.11. The company’s stock had a trading volume of 88,951 shares, compared to its average volume of 75,939. Abrdn Australia Equity Fund has a 52 week low of $4.01 and a 52 week high of $4.75.

Abrdn Australia Equity Fund Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 21st will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 11.68%. The ex-dividend date of this dividend is Friday, February 21st.

Hedge Funds Weigh In On Abrdn Australia Equity Fund

Large investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC grew its position in Abrdn Australia Equity Fund by 16.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,384,336 shares of the company’s stock worth $14,181,000 after purchasing an additional 485,633 shares during the last quarter. 1607 Capital Partners LLC grew its position in Abrdn Australia Equity Fund by 1.1% during the fourth quarter. 1607 Capital Partners LLC now owns 2,301,525 shares of the company’s stock worth $9,644,000 after buying an additional 24,712 shares in the last quarter. Cetera Investment Advisers grew its position in Abrdn Australia Equity Fund by 3.8% during the fourth quarter. Cetera Investment Advisers now owns 658,538 shares of the company’s stock worth $2,759,000 after buying an additional 24,068 shares in the last quarter. Wolverine Asset Management LLC increased its stake in Abrdn Australia Equity Fund by 167.3% during the fourth quarter. Wolverine Asset Management LLC now owns 87,675 shares of the company’s stock valued at $367,000 after acquiring an additional 54,876 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in Abrdn Australia Equity Fund in the 4th quarter valued at approximately $127,000.

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.