Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) Short Interest Up 72.6% in March

Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) was the target of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 67,300 shares, an increase of 72.6% from the February 28th total of 39,000 shares. Based on an average daily trading volume, of 67,200 shares, the days-to-cover ratio is currently 1.0 days.

Abrdn Australia Equity Fund Stock Down 0.2 %

IAF stock opened at $4.06 on Monday. The business has a 50 day simple moving average of $4.20. Abrdn Australia Equity Fund has a 12 month low of $3.90 and a 12 month high of $4.75.

Abrdn Australia Equity Fund Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 21st will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 11.82%. The ex-dividend date of this dividend is Friday, February 21st.

Hedge Funds Weigh In On Abrdn Australia Equity Fund

Several institutional investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC lifted its stake in shares of Abrdn Australia Equity Fund by 16.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,384,336 shares of the company’s stock worth $14,181,000 after buying an additional 485,633 shares during the last quarter. Atria Wealth Solutions Inc. acquired a new position in Abrdn Australia Equity Fund during the 4th quarter worth $100,000. Chatham Capital Group Inc. acquired a new position in Abrdn Australia Equity Fund during the 4th quarter worth $68,000. Wolverine Asset Management LLC boosted its holdings 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, Citadel Advisors LLC grew its position in shares of Abrdn Australia Equity Fund by 11.1% in the fourth 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.

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.