Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) Short Interest Update

Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) saw a significant growth in short interest in the month of February. As of February 28th, there was short interest totalling 39,000 shares, a growth of 457.1% from the February 13th total of 7,000 shares. Based on an average daily volume of 74,000 shares, the days-to-cover ratio is presently 0.5 days.

Abrdn Australia Equity Fund Stock Performance

IAF traded down $0.04 on Wednesday, reaching $4.00. The company’s stock had a trading volume of 45,073 shares, compared to its average volume of 74,825. Abrdn Australia Equity Fund has a 1 year low of $3.99 and a 1 year high of $4.75. The firm has a 50 day moving average of $4.22.

Abrdn Australia Equity Fund Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders 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 dividend yield of 12.00%. The ex-dividend date of this dividend is Friday, February 21st.

Institutional Trading of Abrdn Australia Equity Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in IAF. Allspring Global Investments Holdings LLC lifted its holdings in Abrdn Australia Equity Fund by 16.8% during the 4th 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. Wolverine Asset Management LLC lifted its holdings in Abrdn Australia Equity Fund by 167.3% in the fourth quarter. Wolverine Asset Management LLC now owns 87,675 shares of the company’s stock worth $367,000 after acquiring an additional 54,876 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Abrdn Australia Equity Fund during the 4th quarter valued at approximately $127,000. 1607 Capital Partners LLC boosted its holdings in shares of 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 valued at $9,644,000 after acquiring an additional 24,712 shares during the period. Finally, Cetera Investment Advisers raised its holdings in shares of Abrdn Australia Equity Fund by 3.8% during the fourth quarter. Cetera Investment Advisers now owns 658,538 shares of the company’s stock valued at $2,759,000 after buying an additional 24,068 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.