Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) Sees Large Increase in Short Interest

Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) saw a significant growth in short interest during the month of April. As of April 15th, there was short interest totalling 77,600 shares, a growth of 175.2% from the March 31st total of 28,200 shares. Based on an average daily volume of 95,200 shares, the days-to-cover ratio is currently 0.8 days.

Hedge Funds Weigh In On Abrdn Australia Equity Fund

Several large investors have recently made changes to their positions in IAF. Atria Wealth Solutions Inc. lifted its holdings in shares of Abrdn Australia Equity Fund by 30.4% during the third quarter. Atria Wealth Solutions Inc. now owns 552,418 shares of the company’s stock valued at $2,182,000 after purchasing an additional 128,758 shares during the last quarter. 1607 Capital Partners LLC raised its holdings in Abrdn Australia Equity Fund by 9.5% in the 3rd quarter. 1607 Capital Partners LLC now owns 1,486,852 shares of the company’s stock worth $5,873,000 after acquiring an additional 128,703 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in Abrdn Australia Equity Fund by 31.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,709,101 shares of the company’s stock worth $7,400,000 after acquiring an additional 409,247 shares during the last quarter.

Abrdn Australia Equity Fund Trading Down 0.5 %

Shares of IAF opened at $4.22 on Friday. Abrdn Australia Equity Fund has a one year low of $3.60 and a one year high of $4.55.

Abrdn Australia Equity Fund Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, February 22nd were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 11.37%. This is a positive change from Abrdn Australia Equity Fund’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Wednesday, February 21st.

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.