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

Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) was the recipient of a large decline in short interest during the month of October. As of October 15th, there was short interest totalling 13,800 shares, a decline of 8.0% from the September 30th total of 15,000 shares. Based on an average daily volume of 57,900 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Investors Weigh In On Abrdn Australia Equity Fund

Several hedge funds have recently bought and sold shares of IAF. Covenant Partners LLC bought a new position in Abrdn Australia Equity Fund during the third quarter worth $52,000. Cetera Advisors LLC acquired a new stake in shares of Abrdn Australia Equity Fund during the 1st quarter worth about $97,000. International Assets Investment Management LLC acquired a new stake in shares of Abrdn Australia Equity Fund during the 3rd quarter worth about $137,000. Karpus Management Inc. boosted its holdings in shares of Abrdn Australia Equity Fund by 267.2% during the 1st quarter. Karpus Management Inc. now owns 52,625 shares of the company’s stock worth $224,000 after buying an additional 38,295 shares during the period. Finally, Atria Wealth Solutions Inc. grew its stake in 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 valued at $2,550,000 after buying an additional 20,678 shares during the last quarter.

Abrdn Australia Equity Fund Stock Performance

IAF traded down $0.06 during trading on Thursday, reaching $4.39. 115,187 shares of the stock were exchanged, compared to its average volume of 64,795. Abrdn Australia Equity Fund has a twelve month low of $3.61 and a twelve month high of $4.75.

Abrdn Australia Equity Fund Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, August 23rd were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $0.48 annualized dividend and a dividend yield of 10.95%.

Abrdn Australia Equity Fund Company Profile

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.