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

Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) was the recipient of a large growth in short interest during the month of February. As of February 15th, there was short interest totalling 7,000 shares, a growth of 70.7% from the January 31st total of 4,100 shares. Based on an average daily volume of 70,200 shares, the short-interest ratio is presently 0.1 days.

Abrdn Australia Equity Fund Price Performance

Shares of NYSEAMERICAN IAF traded down $0.02 during trading on Friday, reaching $4.10. The company had a trading volume of 67,341 shares, compared to its average volume of 75,598. Abrdn Australia Equity Fund has a twelve month low of $4.01 and a twelve month high of $4.75.

Abrdn Australia Equity Fund Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 21st will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $0.48 dividend on an annualized basis and a yield of 11.71%.

Institutional Investors Weigh In On Abrdn Australia Equity Fund

Several hedge funds have recently modified their holdings of IAF. Citadel Advisors LLC raised 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 buying an additional 2,365 shares during the last quarter. Wells Fargo & Company MN grew its stake in Abrdn Australia Equity Fund by 28.6% in the 4th quarter. Wells Fargo & Company MN now owns 15,263 shares of the company’s stock worth $64,000 after acquiring an additional 3,397 shares during the period. Arete Wealth Advisors LLC acquired a new position in Abrdn Australia Equity Fund in the 4th quarter valued at $45,000. Chatham Capital Group Inc. purchased a new position in shares of Abrdn Australia Equity Fund during the 4th quarter worth $68,000. Finally, Atria Wealth Solutions Inc. purchased a new position in shares of Abrdn Australia Equity Fund during the 4th quarter worth $100,000.

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.