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

Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) was the recipient of a large increase in short interest in the month of 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 trading volume of 59,900 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Trading of Abrdn Australia Equity Fund

A number of hedge funds have recently added to or reduced their stakes in IAF. Karpus Management Inc. boosted its position in Abrdn Australia Equity Fund by 267.2% in the first quarter. Karpus Management Inc. now owns 52,625 shares of the company’s stock valued at $224,000 after buying an additional 38,295 shares in the last quarter. Cetera Advisors LLC acquired a new stake in Abrdn Australia Equity Fund in the first quarter valued at approximately $97,000. Atria Wealth Solutions Inc. lifted its holdings in shares of Abrdn Australia Equity Fund by 3.6% during the second 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 during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Abrdn Australia Equity Fund by 7.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,674,777 shares of the company’s stock worth $11,582,000 after purchasing an additional 174,918 shares during the period. Finally, International Assets Investment Management LLC acquired a new position in shares of Abrdn Australia Equity Fund during the third quarter worth $137,000.

Abrdn Australia Equity Fund Stock Performance

Shares of IAF remained flat at $4.50 during mid-day trading on Friday. 35,528 shares of the stock traded hands, compared to its average volume of 64,556. Abrdn Australia Equity Fund has a 12 month low of $3.87 and a 12 month high of $4.75.

Abrdn Australia Equity Fund Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Thursday, November 21st will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 11.56%. 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.

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.