Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) Short Interest Down 41.1% in April
by Scott Moore · The Cerbat GemAbrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF – Get Free Report) was the target of a significant drop in short interest during the month of April. As of April 30th, there was short interest totaling 4,289 shares, a drop of 41.1% from the April 15th total of 7,283 shares. Based on an average daily volume of 14,251 shares, the days-to-cover ratio is presently 0.3 days.
Institutional Investors Weigh In On Abrdn Australia Equity Fund
Several hedge funds and other institutional investors have recently made changes to their positions in IAF. Bank of America Corp DE raised its stake in shares of Abrdn Australia Equity Fund by 64.8% in the second quarter. Bank of America Corp DE now owns 12,121 shares of the company’s stock valued at $54,000 after acquiring an additional 4,765 shares during the period. Osaic Holdings Inc. raised its stake in shares of Abrdn Australia Equity Fund by 5.0% in the second quarter. Osaic Holdings Inc. now owns 122,535 shares of the company’s stock valued at $548,000 after acquiring an additional 5,818 shares during the period. Citadel Advisors LLC purchased a new stake in shares of Abrdn Australia Equity Fund in the third quarter valued at $86,000. PNC Financial Services Group Inc. purchased a new stake in shares of Abrdn Australia Equity Fund in the fourth quarter valued at $78,000. Finally, NWF Advisory Services Inc. purchased a new stake in shares of Abrdn Australia Equity Fund in the fourth quarter valued at $446,000.
Abrdn Australia Equity Fund Price Performance
IAF stock traded down $0.17 during trading on Monday, hitting $12.78. 34,922 shares of the company’s stock traded hands, compared to its average volume of 32,613. Abrdn Australia Equity Fund has a 52 week low of $11.76 and a 52 week high of $14.54. The business has a fifty day simple moving average of $12.66 and a 200 day simple moving average of $13.09.
Abrdn Australia Equity Fund Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Thursday, May 21st will be paid a $0.36 dividend. The ex-dividend date of this dividend is Thursday, May 21st. This represents a $1.44 annualized dividend and a dividend yield of 11.3%.
About Abrdn Australia Equity Fund
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.