The India Fund, Inc. (NYSE:IFN) Sees Large Decline in Short Interest

The India Fund, Inc. (NYSE:IFN) was the target of a large decrease in short interest during the month of 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 presently 4.3 days.

Hedge Funds Weigh In On The India Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. National Bank of Canada FI lifted its stake in The India Fund by 233.3% in the 4th quarter. National Bank of Canada FI now owns 2,000 shares of the investment management company’s stock valued at $37,000 after purchasing an additional 1,400 shares during the last quarter. Barclays PLC bought a new position in The India Fund in the 1st quarter valued at approximately $94,000. Advisor Group Holdings Inc. lifted its stake in The India Fund by 37.0% in the 4th quarter. Advisor Group Holdings Inc. now owns 8,869 shares of the investment management company’s stock valued at $132,000 after purchasing an additional 2,395 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in The India Fund by 129,287.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 10,351 shares of the investment management company’s stock valued at $172,000 after purchasing an additional 10,343 shares during the last quarter. Finally, Miracle Mile Advisors LLC bought a new position in shares of The India Fund during the third quarter valued at $190,000. Institutional investors own 10.76% of the company’s stock.

The India Fund Price Performance

Shares of NYSE:IFN opened at $17.55 on Thursday. The firm has a 50 day simple moving average of $20.10 and a 200 day simple moving average of $18.54. The India Fund has a one year low of $15.12 and a one year 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 paid a $0.43 dividend. This is an increase from The India Fund’s previous quarterly dividend of $0.41. The ex-dividend date was Wednesday, February 21st. This represents a $1.72 annualized dividend and a yield of 9.80%.

About The India Fund

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.