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

Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) was the recipient of a significant decline in short interest during the month of April. As of April 30th, there was short interest totaling 4,289 shares, a decline of 41.1% from the April 15th total of 7,283 shares. Based on an average trading volume of 14,251 shares, the days-to-cover ratio is currently 0.3 days.

Abrdn Australia Equity Fund Stock Performance

IAF traded up $0.02 on Tuesday, reaching $12.80. 13,252 shares of the company’s stock were exchanged, compared to its average volume of 32,402. Abrdn Australia Equity Fund has a twelve month low of $11.76 and a twelve month high of $14.54. The stock’s fifty day moving average price is $12.66 and its 200-day moving average price is $13.09.

Abrdn Australia Equity Fund Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Thursday, May 21st will be given a dividend of $0.36 per share. The ex-dividend date is Thursday, May 21st. This represents a $1.44 dividend on an annualized basis and a yield of 11.3%.

Hedge Funds Weigh In On Abrdn Australia Equity Fund

A number of institutional investors and hedge funds have recently bought and sold shares of IAF. Bank of America Corp DE boosted its position in Abrdn Australia Equity Fund by 64.8% during the second quarter. Bank of America Corp DE now owns 12,121 shares of the company’s stock worth $54,000 after acquiring an additional 4,765 shares during the last quarter. PNC Financial Services Group Inc. acquired a new position in Abrdn Australia Equity Fund in the 4th quarter valued at about $78,000. Citadel Advisors LLC acquired a new position in Abrdn Australia Equity Fund in the 3rd quarter valued at about $86,000. NWF Advisory Services Inc. boosted its holdings in Abrdn Australia Equity Fund by 5.9% in the 1st quarter. NWF Advisory Services Inc. now owns 36,527 shares of the company’s stock valued at $443,000 after purchasing an additional 2,034 shares during the last quarter. Finally, Osaic Holdings Inc. boosted its holdings in Abrdn Australia Equity Fund by 5.0% in the 2nd quarter. Osaic Holdings Inc. now owns 122,535 shares of the company’s stock valued at $548,000 after purchasing an additional 5,818 shares during the last quarter.

Abrdn Australia Equity Fund Company Profile

Abrdn Australia Equity Fund (NYSE American: IAF) is a closed-end investment company that seeks long-term capital growth through a diversified portfolio of Australian equities. Listed on the NYSE American exchange, the fund provides U.S. and international investors with direct exposure to the Australian stock market, encompassing companies across a range of sectors including financials, materials, healthcare and consumer staples.

The fund’s investment strategy is driven by a bottom-up, fundamental research process led by abrdn’s Australia-based equity team.