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

Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) was the recipient of a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 67,300 shares, an increase of 72.6% from the February 28th total of 39,000 shares. Based on an average daily volume of 67,200 shares, the short-interest ratio is currently 1.0 days.

Hedge Funds Weigh In On Abrdn Australia Equity Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in IAF. Arete Wealth Advisors LLC bought a new stake in shares of Abrdn Australia Equity Fund in the 4th quarter worth approximately $45,000. Wells Fargo & Company MN raised its stake in shares of Abrdn Australia Equity Fund by 28.6% in the fourth quarter. Wells Fargo & Company MN now owns 15,263 shares of the company’s stock valued at $64,000 after purchasing an additional 3,397 shares in the last quarter. Chatham Capital Group Inc. bought a new position in Abrdn Australia Equity Fund in the fourth quarter worth $68,000. Citadel Advisors LLC boosted its stake in Abrdn Australia Equity Fund by 11.1% during the fourth quarter. Citadel Advisors LLC now owns 23,755 shares of the company’s stock worth $100,000 after buying an additional 2,365 shares in the last quarter. Finally, Atria Wealth Solutions Inc. acquired a new stake in Abrdn Australia Equity Fund during the fourth quarter worth $100,000.

Abrdn Australia Equity Fund Price Performance

NYSEAMERICAN IAF traded down $0.01 during midday trading on Friday, hitting $4.06. The company had a trading volume of 93,503 shares, compared to its average volume of 58,873. The stock has a fifty day moving average of $4.20. Abrdn Australia Equity Fund has a fifty-two week low of $3.90 and a fifty-two week high of $4.75.

Abrdn Australia Equity Fund Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 21st will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 11.82%. The ex-dividend date is Friday, February 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.