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

The India Fund, Inc. (NYSE:IFN) was the recipient of a significant decline in short interest in the month of March. As of March 15th, there was short interest totalling 162,400 shares, a decline of 33.6% from the February 28th total of 244,500 shares. Based on an average trading volume of 217,000 shares, the days-to-cover ratio is presently 0.7 days. Currently, 0.5% of the company’s shares are sold short.

The India Fund Stock Performance

Shares of NYSE:IFN traded down $0.14 during midday trading on Friday, hitting $15.66. 88,996 shares of the stock traded hands, compared to its average volume of 189,730. The business’s 50 day moving average is $15.48 and its two-hundred day moving average is $16.78. The India Fund has a one year low of $14.17 and a one year high of $20.83.

The India Fund Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 21st will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 11.75%. The ex-dividend date of this dividend is Friday, February 21st.

Institutional Investors Weigh In On The India Fund

A number of large investors have recently made changes to their positions in IFN. Wolverine Asset Management LLC raised its holdings in shares of The India Fund by 188.4% during the fourth quarter. Wolverine Asset Management LLC now owns 109,284 shares of the investment management company’s stock valued at $1,721,000 after acquiring an additional 71,390 shares in the last quarter. Janney Montgomery Scott LLC purchased a new position in The India Fund during the 4th quarter valued at $2,722,000. Transcend Capital Advisors LLC raised its holdings in The India Fund by 25.7% in the 4th quarter. Transcend Capital Advisors LLC now owns 146,764 shares of the investment management company’s stock worth $2,312,000 after purchasing an additional 30,000 shares in the last quarter. Calamos Advisors LLC lifted its position in shares of The India Fund by 92.0% in the 4th quarter. Calamos Advisors LLC now owns 37,191 shares of the investment management company’s stock worth $586,000 after purchasing an additional 17,816 shares during the period. Finally, Absolute Investment Advisers LLC bought a new stake in shares of The India Fund during the 4th quarter valued at about $770,000. 10.76% of the stock is currently owned by institutional investors.

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.