Short Interest in India Fund, Inc. (NYSE:IFN) Increases By 49.4%

India Fund, Inc. (NYSE:IFNGet Free Report) was the target of a large growth in short interest in the month of May. As of May 31st, there was short interest totalling 267,300 shares, a growth of 49.4% from the May 15th total of 178,900 shares. Based on an average daily trading volume, of 157,900 shares, the days-to-cover ratio is presently 1.7 days. Currently, 0.9% of the company’s stock are short sold.

Hedge Funds Weigh In On India Fund

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Integrity Wealth Advisors Inc. boosted its stake in shares of India Fund by 9.8% in the 1st quarter. Integrity Wealth Advisors Inc. now owns 16,114 shares of the investment management company’s stock valued at $254,000 after buying an additional 1,441 shares during the period. Strs Ohio purchased a new stake in India Fund during the first quarter worth approximately $3,785,000. Focus Partners Wealth lifted its stake in India Fund by 14.4% during the first quarter. Focus Partners Wealth now owns 50,510 shares of the investment management company’s stock worth $797,000 after purchasing an additional 6,363 shares during the last quarter. Elequin Capital LP lifted its stake in India Fund by 44.4% during the first quarter. Elequin Capital LP now owns 13,145 shares of the investment management company’s stock worth $207,000 after purchasing an additional 4,043 shares during the last quarter. Finally, Raymond James Financial Inc. lifted its stake in India Fund by 11.1% during the first quarter. Raymond James Financial Inc. now owns 527,682 shares of the investment management company’s stock worth $8,322,000 after purchasing an additional 52,520 shares during the last quarter. Hedge funds and other institutional investors own 10.76% of the company’s stock.

India Fund Trading Down 1.3%

Shares of IFN opened at $15.98 on Wednesday. The stock has a 50-day simple moving average of $15.98 and a 200-day simple moving average of $15.85. India Fund has a 1 year low of $13.76 and a 1 year high of $19.25.

India Fund Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Thursday, May 22nd will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 10.27%. The ex-dividend date of this dividend is Thursday, May 22nd.

India Fund Company Profile

(Get Free Report)

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.

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