Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF – Get Free Report) was the target of a significant decline in short interest during the month of October. As of October 15th, there was short interest totaling 14,782 shares, a decline of 54.8% from the September 30th total of 32,723 shares. Based on an average trading volume of 26,485 shares, the short-interest ratio is currently 0.6 days.
Abrdn Australia Equity Fund Stock Performance
Shares of IAF traded down $0.04 during mid-day trading on Friday, hitting $12.50. 20,018 shares of the company traded hands, compared to its average volume of 28,419. Abrdn Australia Equity Fund has a 1-year low of $11.76 and a 1-year high of $14.54. The business has a 50 day moving average of $12.79 and a 200 day moving average of $12.90.
Abrdn Australia Equity Fund Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Monday, August 24th were paid a dividend of $0.35 per share. The ex-dividend date was Monday, August 24th. This represents a $1.40 dividend on an annualized basis and a yield of 11.2%.
Hedge Funds Weigh In On Abrdn Australia Equity Fund
Several hedge funds have recently made changes to their positions in IAF. PNC Financial Services Group Inc. grew its stake in Abrdn Australia Equity Fund by 86.5% during the 1st 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 stake in shares of Abrdn Australia Equity Fund by 21.4% in the second quarter. Susquehanna International Group LLP now owns 26,518 shares of the company’s stock worth $328,000 after purchasing an additional 4,676 shares during the last quarter. NWF Advisory Services Inc. raised its stake in shares of Abrdn Australia Equity Fund by 5.9% in 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. Shaker Financial Services LLC acquired a new stake in shares of Abrdn Australia Equity Fund during the third quarter worth about $582,000. Finally, Cetera Investment Advisers lifted its holdings in shares of Abrdn Australia Equity Fund by 17.2% during the first quarter. Cetera Investment Advisers now owns 308,366 shares of the company’s stock worth $3,737,000 after purchasing an additional 45,332 shares during the period.
Abrdn Australia Equity Fund Company Profile
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.
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