Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) Short Interest Up 23.2% in March

Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) was the target of a significant increase in short interest in March. As of March 31st, there was short interest totalling 82,900 shares, an increase of 23.2% from the March 15th total of 67,300 shares. Based on an average daily volume of 73,800 shares, the short-interest ratio is currently 1.1 days.

Institutional Investors Weigh In On Abrdn Australia Equity Fund

Several hedge funds and other institutional investors have recently bought and sold shares of IAF. Citadel Advisors LLC lifted its stake in Abrdn Australia Equity Fund by 11.1% during the 4th quarter. Citadel Advisors LLC now owns 23,755 shares of the company’s stock worth $100,000 after acquiring an additional 2,365 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Abrdn Australia Equity Fund by 28.6% in the fourth quarter. Wells Fargo & Company MN now owns 15,263 shares of the company’s stock valued at $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 about $45,000. Chatham Capital Group Inc. purchased a new position in 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 approximately $100,000.

Abrdn Australia Equity Fund Stock Up 0.5 %

Abrdn Australia Equity Fund stock traded up $0.02 during trading hours on Friday, hitting $4.00. 52,218 shares of the stock traded hands, compared to its average volume of 59,238. The firm’s 50 day moving average price is $4.06 and its 200-day moving average price is $4.19. Abrdn Australia Equity Fund has a 1 year low of $3.35 and a 1 year high of $4.75.

Abrdn Australia Equity Fund Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, February 21st were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $0.48 annualized dividend and a dividend yield of 12.00%.

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.