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

Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) was the target of a large decrease in short interest in the month of November. As of November 30th, there was short interest totalling 15,600 shares, a decrease of 54.7% from the November 15th total of 34,400 shares. Based on an average daily volume of 68,300 shares, the days-to-cover ratio is presently 0.2 days.

Abrdn Australia Equity Fund Price Performance

NYSEAMERICAN:IAF traded down $0.01 on Friday, reaching $4.34. 41,023 shares of the stock traded hands, compared to its average volume of 64,742. Abrdn Australia Equity Fund has a 1-year low of $3.95 and a 1-year high of $4.75.

Abrdn Australia Equity Fund Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Thursday, November 21st will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 11.98%. This is a boost from Abrdn Australia Equity Fund’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Thursday, November 21st.

Hedge Funds Weigh In On Abrdn Australia Equity Fund

Institutional investors and hedge funds have recently modified their holdings of the business. Covenant Partners LLC bought a new position in shares of Abrdn Australia Equity Fund during the 3rd quarter worth approximately $52,000. Cetera Advisors LLC bought a new position in shares of Abrdn Australia Equity Fund in the 1st quarter worth $97,000. International Assets Investment Management LLC bought a new position in shares of Abrdn Australia Equity Fund in the 3rd quarter worth $137,000. Wolverine Asset Management LLC lifted its holdings in shares of Abrdn Australia Equity Fund by 369.2% in the 3rd quarter. Wolverine Asset Management LLC now owns 32,799 shares of the company’s stock worth $154,000 after purchasing an additional 25,808 shares in the last quarter. Finally, Atria Wealth Solutions Inc. lifted its holdings in shares of Abrdn Australia Equity Fund by 3.6% in the 2nd quarter. Atria Wealth Solutions Inc. now owns 588,881 shares of the company’s stock worth $2,550,000 after purchasing an additional 20,678 shares in the last quarter.

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.