Aberdeen Australia Equity Fund Inc (IAF) Sees Significant Drop in Short Interest

Aberdeen Australia Equity Fund Inc (NYSEAMERICAN:IAF) was the recipient of a large decline in short interest during the month of April. As of April 13th, there was short interest totalling 22,825 shares, a decline of 66.1% from the March 30th total of 67,408 shares. Approximately 0.1% of the shares of the stock are short sold. Based on an average daily volume of 47,158 shares, the days-to-cover ratio is presently 0.5 days.

Shares of IAF opened at $6.00 on Friday. Aberdeen Australia Equity Fund has a 52-week low of $5.80 and a 52-week high of $6.77.

A hedge fund recently raised its stake in Aberdeen Australia Equity Fund stock. Guggenheim Capital LLC raised its holdings in Aberdeen Australia Equity Fund Inc (NYSEAMERICAN:IAF) by 4.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 331,182 shares of the company’s stock after purchasing an additional 14,439 shares during the quarter. Guggenheim Capital LLC owned approximately 1.45% of Aberdeen Australia Equity Fund worth $2,110,000 as of its most recent SEC filing.

About Aberdeen Australia Equity Fund

Aberdeen Australia Equity Fund, Inc is a non-diversified, closed-end management investment company. The Fund’s principal investment objective is long-term capital appreciation through investment primarily in equity securities of Australian companies listed on the Australian Stock Exchange Limited. Its secondary objective is current income, which is expected to be derived primarily from dividends and interest on Australian corporate and governmental securities.

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