Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) Short Interest Up 77.2% in December

Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) was the target of a large increase in short interest in December. As of December 31st, there was short interest totalling 59,000 shares, an increase of 77.2% from the December 15th total of 33,300 shares. Based on an average daily trading volume, of 72,100 shares, the short-interest ratio is presently 0.8 days.

Hedge Funds Weigh In On Abrdn Australia Equity Fund

A number of hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC increased its stake in shares of Abrdn Australia Equity Fund by 8.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,898,703 shares of the company’s stock valued at $13,653,000 after buying an additional 223,926 shares during the period. International Assets Investment Management LLC acquired a new position in Abrdn Australia Equity Fund in the third quarter valued at about $137,000. Covenant Partners LLC bought a new stake in shares of Abrdn Australia Equity Fund in the third quarter valued at about $52,000. Finally, Wolverine Asset Management LLC lifted its holdings in shares of Abrdn Australia Equity Fund by 369.2% in the third quarter. Wolverine Asset Management LLC now owns 32,799 shares of the company’s stock valued at $154,000 after purchasing an additional 25,808 shares in the last quarter.

Abrdn Australia Equity Fund Stock Down 0.2 %

Shares of IAF opened at $4.36 on Friday. Abrdn Australia Equity Fund has a 1 year low of $3.95 and a 1 year high of $4.75.

Abrdn Australia Equity Fund Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Thursday, November 21st were issued a $0.13 dividend. The ex-dividend date of this dividend was Thursday, November 21st. This is a boost from Abrdn Australia Equity Fund’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a dividend yield of 11.93%.

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.