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

Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) saw a large decline in short interest in September. As of September 30th, there was short interest totalling 15,000 shares, a decline of 5.7% from the September 15th total of 15,900 shares. Based on an average daily volume of 48,100 shares, the short-interest ratio is presently 0.3 days.

Abrdn Australia Equity Fund Price Performance

Shares of Abrdn Australia Equity Fund stock opened at $4.59 on Friday. Abrdn Australia Equity Fund has a 12 month low of $3.60 and a 12 month high of $4.75.

Abrdn Australia Equity Fund Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, August 23rd were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 10.47%. The ex-dividend date of this dividend was Friday, August 23rd.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its stake in Abrdn Australia Equity Fund by 7.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,674,777 shares of the company’s stock worth $11,582,000 after buying an additional 174,918 shares during the period. 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 worth $2,550,000 after acquiring an additional 20,678 shares in the last quarter. Karpus Management Inc. increased its position in shares of Abrdn Australia Equity Fund by 267.2% during the first quarter. Karpus Management Inc. now owns 52,625 shares of the company’s stock worth $224,000 after acquiring an additional 38,295 shares during the period. Finally, Cetera Advisors LLC bought a new stake in shares of Abrdn Australia Equity Fund during the first quarter valued at approximately $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.