Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) Stock Short Interest Report for October

Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) saw a large decrease in short interest during the month of October. As of October 15th, there was short interest totaling 14,782 shares, a decrease of 54.8% from the September 30th total of 32,723 shares. Based on an average trading volume of 26,485 shares, the days-to-cover ratio is currently 0.6 days.

Institutional Investors Weigh In On Abrdn Australia Equity Fund

Several large investors have recently modified their holdings of IAF. PNC Financial Services Group Inc. lifted its holdings in shares of Abrdn Australia Equity Fund by 86.5% during the first quarter. PNC Financial Services Group Inc. now owns 11,288 shares of the company’s stock valued at $137,000 after purchasing an additional 5,235 shares during the last quarter. Susquehanna International Group LLP raised its holdings in Abrdn Australia Equity Fund by 21.4% during the 2nd quarter. Susquehanna International Group LLP now owns 26,518 shares of the company’s stock worth $328,000 after buying an additional 4,676 shares during the period. NWF Advisory Services Inc. lifted its stake in Abrdn Australia Equity Fund by 5.9% during the first quarter. NWF Advisory Services Inc. now owns 36,527 shares of the company’s stock valued at $443,000 after buying an additional 2,034 shares in the last quarter. Shaker Financial Services LLC purchased a new stake in Abrdn Australia Equity Fund during the third quarter valued at about $582,000. Finally, Cetera Investment Advisers boosted its holdings in shares of Abrdn Australia Equity Fund by 17.2% in the first quarter. Cetera Investment Advisers now owns 308,366 shares of the company’s stock worth $3,737,000 after buying an additional 45,332 shares during the period.

Abrdn Australia Equity Fund Stock Performance

Shares of IAF traded down $0.04 during mid-day trading on Friday, hitting $12.50. The company’s stock had a trading volume of 20,018 shares, compared to its average volume of 28,419. The firm has a 50-day moving average price of $12.79 and a 200 day moving average price of $12.90. Abrdn Australia Equity Fund has a fifty-two week low of $11.76 and a fifty-two week high of $14.54.

Abrdn Australia Equity Fund Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Monday, August 24th were given a $0.35 dividend. The ex-dividend date was Monday, August 24th. This represents a $1.40 annualized dividend and a yield of 11.2%.

About Abrdn Australia Equity Fund

abrdn Australia Equity Fund, Inc is a closed-end investment company listed on the NYSE American under the symbol IAF. The fund seeks long-term capital appreciation by investing primarily in equity securities issued by companies based in, or deriving a substantial portion of their business from, Australia.

The portfolio provides investors with access to a range of Australian industries and businesses through a professionally managed collection of publicly traded securities. Its investments may include companies across sectors such as financial services, materials, energy, healthcare, consumer goods and industrials, although portfolio composition changes over time.

The fund was formerly known as Aberdeen Australia Equity Fund, Inc and adopted the abrdn name following the rebranding of its investment management business.