Short Interest in Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) Expands By 23.2%

Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) saw a large increase in short interest in March. As of March 31st, there was short interest totalling 82,900 shares, an increase of 23.2% from the March 15th total of 67,300 shares. Based on an average trading volume of 73,800 shares, the short-interest ratio is currently 1.1 days.

Abrdn Australia Equity Fund Price Performance

Shares of IAF stock opened at $3.99 on Tuesday. Abrdn Australia Equity Fund has a 52-week low of $3.35 and a 52-week high of $4.75. The company’s 50 day moving average is $4.05 and its 200 day moving average is $4.19.

Abrdn Australia Equity Fund Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, February 21st were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 12.03%. The ex-dividend date of this dividend was Friday, February 21st.

Hedge Funds Weigh In On Abrdn Australia Equity Fund

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

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.