Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF – Get Free Report) was the target of a significant increase in short interest in 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 trading volume of 24,478 shares, the short-interest ratio is presently 0.4 days.
Hedge Funds Weigh In On Abrdn Australia Equity Fund
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. 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 worth $443,000 after purchasing an additional 2,034 shares during the last quarter. Bank of America Corp DE increased its stake in 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 purchasing an additional 4,765 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in 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 worth $137,000 after purchasing an additional 5,235 shares in the last quarter. Osaic Holdings Inc. raised its holdings in Abrdn Australia Equity Fund by 5.0% during the second quarter. Osaic Holdings Inc. now owns 122,535 shares of the company’s stock worth $548,000 after purchasing an additional 5,818 shares in the last quarter. Finally, Citadel Advisors LLC acquired a new stake in Abrdn Australia Equity Fund during the third quarter worth approximately $86,000.
Abrdn Australia Equity Fund Price Performance
IAF opened at $12.38 on Friday. Abrdn Australia Equity Fund has a 12 month low of $11.76 and a 12 month high of $14.54. The business has a fifty day moving average price of $12.60 and a 200 day moving average price of $12.97.
Abrdn Australia Equity Fund Dividend Announcement
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.
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