Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) Sees Significant Increase in Short Interest

Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) saw a significant growth in short interest in December. As of December 15th, there was short interest totalling 33,300 shares, a growth of 113.5% from the November 30th total of 15,600 shares. Based on an average trading volume of 71,800 shares, the short-interest ratio is currently 0.5 days.

Abrdn Australia Equity Fund Trading Down 1.4 %

Shares of IAF traded down $0.06 during mid-day trading on Friday, hitting $4.24. The stock had a trading volume of 34,537 shares, compared to its average volume of 64,623. Abrdn Australia Equity Fund has a fifty-two week low of $3.95 and a fifty-two week high of $4.75.

Abrdn Australia Equity Fund Increases Dividend

The firm also recently announced 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 12.26%. This is a boost from Abrdn Australia Equity Fund’s previous quarterly dividend of $0.12. The ex-dividend date is Thursday, November 21st.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of IAF. Covenant Partners LLC acquired a new position in Abrdn Australia Equity Fund in the third quarter valued at approximately $52,000. International Assets Investment Management LLC acquired a new position in Abrdn Australia Equity Fund during the 3rd quarter valued at approximately $137,000. Wolverine Asset Management LLC grew its stake 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 worth $154,000 after buying an additional 25,808 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in Abrdn Australia Equity Fund by 7.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,674,777 shares of the company’s stock worth $11,582,000 after buying an additional 174,918 shares during the period.

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.