Aberdeen Australia Equity Fund, Inc. (NYSEAMERICAN:IAF) Short Interest Down 23.8% in August

Aberdeen Australia Equity Fund, Inc. (NYSEAMERICAN:IAF) was the recipient of a large drop in short interest during the month of August. As of August 31st, there was short interest totalling 175,300 shares, a drop of 23.8% from the August 15th total of 230,000 shares. Based on an average trading volume of 82,200 shares, the days-to-cover ratio is currently 2.1 days.

Institutional investors have recently added to or reduced their stakes in the company. Sigma Planning Corp bought a new stake in shares of Aberdeen Australia Equity Fund in the 1st quarter worth about $61,000. Stratos Wealth Partners LTD. bought a new stake in Aberdeen Australia Equity Fund during the 2nd quarter valued at about $81,000. Avidian Wealth Solutions LLC bought a new stake in Aberdeen Australia Equity Fund during the 2nd quarter valued at about $90,000. LPL Financial LLC lifted its holdings in Aberdeen Australia Equity Fund by 26.7% during the 2nd quarter. LPL Financial LLC now owns 41,709 shares of the company’s stock valued at $269,000 after buying an additional 8,777 shares in the last quarter. Finally, Morgan Stanley lifted its holdings in Aberdeen Australia Equity Fund by 60.2% during the 1st quarter. Morgan Stanley now owns 47,355 shares of the company’s stock valued at $276,000 after buying an additional 17,804 shares in the last quarter.

Shares of Aberdeen Australia Equity Fund stock traded up $0.10 during trading on Tuesday, hitting $5.78. The stock had a trading volume of 2,600 shares, compared to its average volume of 78,599. Aberdeen Australia Equity Fund has a 12 month low of $4.41 and a 12 month high of $6.66.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 30th. Stockholders of record on Friday, August 20th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 11.07%. The ex-dividend date of this dividend is Thursday, August 19th. This is a positive change from Aberdeen Australia Equity Fund’s previous quarterly dividend of $0.15.

Aberdeen Australia Equity Fund Company Profile

Aberdeen Australia Equity Fund, Inc is a closed ended equity mutual fund launched and managed by Aberdeen Standard Investments (Asia) Limited. The fund is managed by Aberdeen Standard Investments Australia Limited. It invests in the public equity markets of Australia. The fund makes its investments in firms operating across diversified sectors.

Recommended Story: The limitations of an equal weight rating

Receive News & Ratings for Aberdeen Australia Equity Fund Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aberdeen Australia Equity Fund and related companies with MarketBeat.com's FREE daily email newsletter.