Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) Short Interest Up 175.2% in April

Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) was the target of a significant growth in short interest in the month of April. As of April 15th, there was short interest totalling 77,600 shares, a growth of 175.2% from the March 31st total of 28,200 shares. Based on an average daily trading volume, of 95,200 shares, the short-interest ratio is presently 0.8 days.

Institutional Trading of Abrdn Australia Equity Fund

A number of hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC boosted its position in shares of Abrdn Australia Equity Fund by 31.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,709,101 shares of the company’s stock worth $7,400,000 after purchasing an additional 409,247 shares in the last quarter. Atria Wealth Solutions Inc. boosted its holdings in Abrdn Australia Equity Fund by 30.4% in the third quarter. Atria Wealth Solutions Inc. now owns 552,418 shares of the company’s stock worth $2,182,000 after acquiring an additional 128,758 shares in the last quarter. Finally, 1607 Capital Partners LLC boosted its holdings in Abrdn Australia Equity Fund by 9.5% in the third quarter. 1607 Capital Partners LLC now owns 1,486,852 shares of the company’s stock worth $5,873,000 after acquiring an additional 128,703 shares in the last quarter.

Abrdn Australia Equity Fund Stock Performance

Shares of NYSEAMERICAN:IAF opened at $4.26 on Friday. Abrdn Australia Equity Fund has a 52-week low of $3.60 and a 52-week high of $4.55.

Abrdn Australia Equity Fund Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, February 22nd were issued a $0.12 dividend. This is an increase from Abrdn Australia Equity Fund’s previous quarterly dividend of $0.11. The ex-dividend date was Wednesday, February 21st. This represents a $0.48 dividend on an annualized basis and a yield of 11.27%.

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.