The India Fund, Inc. (NYSE:IFN) Short Interest Update

The India Fund, Inc. (NYSE:IFN) was the target of a large decrease in short interest in March. As of March 31st, there was short interest totalling 676,400 shares, a decrease of 5.8% from the March 15th total of 718,100 shares. Based on an average daily volume of 158,500 shares, the short-interest ratio is currently 4.3 days.

The India Fund Stock Performance

IFN traded down $0.06 during trading on Wednesday, reaching $18.41. 1,005,629 shares of the company were exchanged, compared to its average volume of 244,934. The company’s 50-day moving average is $20.15 and its two-hundred day moving average is $18.55. The India Fund has a 12-month low of $15.12 and a 12-month high of $21.25.

The India Fund Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, February 22nd were issued a dividend of $0.43 per share. This is a boost from The India Fund’s previous quarterly dividend of $0.41. The ex-dividend date was Wednesday, February 21st. This represents a $1.72 dividend on an annualized basis and a yield of 9.34%.

Institutional Trading of The India Fund

A number of institutional investors have recently added to or reduced their stakes in the stock. UBS Group AG increased its stake in The India Fund by 2.0% in the 3rd quarter. UBS Group AG now owns 32,379 shares of the investment management company’s stock worth $521,000 after acquiring an additional 632 shares during the last quarter. Raymond James & Associates increased its stake in The India Fund by 3.2% in the 1st quarter. Raymond James & Associates now owns 24,022 shares of the investment management company’s stock worth $464,000 after acquiring an additional 744 shares during the last quarter. Creative Planning increased its stake in The India Fund by 1.8% in the 2nd quarter. Creative Planning now owns 56,460 shares of the investment management company’s stock worth $920,000 after acquiring an additional 1,006 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in The India Fund by 2.5% in the 2nd quarter. Commonwealth Equity Services LLC now owns 45,968 shares of the investment management company’s stock worth $763,000 after acquiring an additional 1,112 shares during the last quarter. Finally, Schnieders Capital Management LLC increased its stake in The India Fund by 5.4% in the 4th quarter. Schnieders Capital Management LLC now owns 25,359 shares of the investment management company’s stock worth $464,000 after acquiring an additional 1,300 shares during the last quarter. Hedge funds and other institutional investors own 10.76% of the company’s stock.

The India Fund Company Profile

The India Fund, Inc is a close ended equity mutual fund launched and managed by Aberdeen Standard Investments (Asia) Limited. The fund invests in public equity markets of India. It seeks to invest in stocks of small-cap, mid-cap, and large-cap companies. The fund employs a quantitative and fundamental analysis with a bottom-up stock picking and asset allocation approach to create its portfolio.