Short Interest in Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) Increases By 99.1%

by · The Markets Daily

Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF – Get Free Report) was the recipient of a large increase in short interest during the month of June. As of June 15th, there was short interest totaling 10,750 shares, an increase of 99.1% from the May 31st total of 5,400 shares. Based on an average daily trading volume, of 24,478 shares, the short-interest ratio is currently 0.4 days.

Abrdn Australia Equity Fund Price Performance

Abrdn Australia Equity Fund stock traded up $0.14 during midday trading on Thursday, reaching $12.38. The stock had a trading volume of 52,652 shares, compared to its average volume of 30,328. The stock’s 50-day simple moving average is $12.61 and its 200 day simple moving average is $12.97. Abrdn Australia Equity Fund has a twelve month low of $11.76 and a twelve month high of $14.54.

Abrdn Australia Equity Fund Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Thursday, May 21st were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 11.6%. The ex-dividend date was Thursday, May 21st.

Institutional Trading of Abrdn Australia Equity Fund

Several hedge funds and other institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. acquired a new stake in shares of Abrdn Australia Equity Fund during the fourth quarter worth $78,000. Bank of America Corp DE boosted its position in shares of Abrdn Australia Equity Fund by 64.8% in the 2nd quarter. Bank of America Corp DE now owns 12,121 shares of the company’s stock valued at $54,000 after purchasing an additional 4,765 shares during the period. Citadel Advisors LLC acquired a new stake in shares of Abrdn Australia Equity Fund in the third quarter worth $86,000. NWF Advisory Services Inc. acquired a new position in Abrdn Australia Equity Fund in the 4th quarter valued at approximately $446,000. Finally, Osaic Holdings Inc. increased its holdings in Abrdn Australia Equity Fund by 5.0% in the second quarter. Osaic Holdings Inc. now owns 122,535 shares of the company’s stock worth $548,000 after buying an additional 5,818 shares during the last quarter.

About Abrdn Australia Equity Fund

(Get Free Report)

Abrdn Australia Equity Fund (NYSE American: IAF) is a closed-end investment company that seeks long-term capital growth through a diversified portfolio of Australian equities. Listed on the NYSE American exchange, the fund provides U.S. and international investors with direct exposure to the Australian stock market, encompassing companies across a range of sectors including financials, materials, healthcare and consumer staples.

The fund’s investment strategy is driven by a bottom-up, fundamental research process led by abrdn’s Australia-based equity team.

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