Aberdeen Australia Equity Fund, Inc. (NYSEAMERICAN:IAF) Sees Large Increase in Short Interest

Aberdeen Australia Equity Fund, Inc. (NYSEAMERICAN:IAFGet Rating) saw a significant growth in short interest during the month of April. As of April 30th, there was short interest totalling 18,200 shares, a growth of 198.4% from the April 15th total of 6,100 shares. Based on an average daily volume of 73,000 shares, the short-interest ratio is presently 0.2 days.

Several institutional investors have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC acquired a new stake in shares of Aberdeen Australia Equity Fund in the first quarter valued at about $75,000. Creative Planning acquired a new position in shares of Aberdeen Australia Equity Fund in the 3rd quarter worth approximately $73,000. Wolverine Asset Management LLC acquired a new position in shares of Aberdeen Australia Equity Fund in the 3rd quarter worth approximately $78,000. UBS Group AG grew its position in shares of Aberdeen Australia Equity Fund by 623.3% in the 3rd quarter. UBS Group AG now owns 16,810 shares of the company’s stock worth $99,000 after acquiring an additional 14,486 shares in the last quarter. Finally, Sigma Planning Corp lifted its holdings in shares of Aberdeen Australia Equity Fund by 51.6% in the 4th quarter. Sigma Planning Corp now owns 17,921 shares of the company’s stock worth $108,000 after purchasing an additional 6,100 shares during the last quarter.

Shares of NYSEAMERICAN:IAF traded up $0.21 on Friday, hitting $5.43. The company had a trading volume of 54,169 shares, compared to its average volume of 81,625. Aberdeen Australia Equity Fund has a 52-week low of $5.05 and a 52-week high of $6.66.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Investors of record on Friday, May 20th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, May 19th. This represents a $0.60 annualized dividend and a yield of 11.06%.

About Aberdeen Australia Equity Fund (Get Rating)

Aberdeen 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.

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