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

Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) was the target of a large decline in short interest in 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 trading volume, of 57,900 shares, the days-to-cover ratio is currently 0.2 days.

Abrdn Australia Equity Fund Price Performance

Abrdn Australia Equity Fund stock traded down $0.05 on Thursday, reaching $4.39. The company’s stock had a trading volume of 115,187 shares, compared to its average volume of 64,794. Abrdn Australia Equity Fund has a twelve month low of $3.61 and a twelve month high of $4.75.

Abrdn Australia Equity Fund Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, August 23rd were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 10.93%. The ex-dividend date was Friday, August 23rd.

Hedge Funds Weigh In On Abrdn Australia Equity Fund

Several hedge funds have recently added to or reduced their stakes in IAF. Allspring Global Investments Holdings LLC lifted its stake in Abrdn Australia Equity Fund by 8.4% in the third 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. Atria Wealth Solutions Inc. lifted its stake in Abrdn Australia Equity Fund by 3.6% in the second 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 period. Karpus Management Inc. lifted its stake in Abrdn Australia Equity Fund by 267.2% in the first quarter. Karpus Management Inc. now owns 52,625 shares of the company’s stock valued at $224,000 after buying an additional 38,295 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. Finally, Cetera Advisors LLC acquired a new position in Abrdn Australia Equity Fund in the first quarter valued at about $97,000.

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.