Short Interest in Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) Rises By 43.5%

Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) was the target of a large increase in short interest in October. As of October 31st, there was short interest totalling 19,800 shares, an increase of 43.5% from the October 15th total of 13,800 shares. Based on an average daily trading volume, of 59,900 shares, the short-interest ratio is currently 0.3 days.

Abrdn Australia Equity Fund Price Performance

Shares of Abrdn Australia Equity Fund stock remained flat at $4.50 during trading hours on Friday. 35,528 shares of the stock traded hands, compared to its average volume of 64,556. Abrdn Australia Equity Fund has a fifty-two week low of $3.87 and a fifty-two week high of $4.75.

Abrdn Australia Equity Fund Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Thursday, November 21st will be issued a $0.13 dividend. This is a boost from Abrdn Australia Equity Fund’s previous quarterly dividend of $0.12. The ex-dividend date is Thursday, November 21st. This represents a $0.52 annualized dividend and a dividend yield of 11.56%.

Hedge Funds Weigh In On Abrdn Australia Equity Fund

Large investors have recently made changes to their positions in the stock. Cetera Advisors LLC purchased a new position in shares of Abrdn Australia Equity Fund in the 1st quarter valued at about $97,000. Wolverine Asset Management LLC increased its holdings in Abrdn Australia Equity Fund by 369.2% during the 3rd quarter. Wolverine Asset Management LLC now owns 32,799 shares of the company’s stock valued at $154,000 after acquiring an additional 25,808 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Abrdn Australia Equity Fund by 8.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,898,703 shares of the company’s stock valued at $13,653,000 after acquiring an additional 223,926 shares in the last quarter. Karpus Management Inc. increased its holdings in Abrdn Australia Equity Fund by 267.2% during the 1st quarter. Karpus Management Inc. now owns 52,625 shares of the company’s stock valued at $224,000 after acquiring an additional 38,295 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new position in Abrdn Australia Equity Fund during the 3rd quarter valued at about $137,000.

About Abrdn Australia Equity Fund

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.