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

The India Fund, Inc. (NYSE:IFN) was the target of a large growth in short interest in March. As of March 31st, there was short interest totalling 191,800 shares, a growth of 18.1% from the March 15th total of 162,400 shares. Currently, 0.6% of the company’s stock are sold short. Based on an average daily trading volume, of 206,300 shares, the days-to-cover ratio is presently 0.9 days.

Institutional Trading of The India Fund

A number of hedge funds have recently bought and sold shares of the stock. Noble Wealth Management PBC bought a new stake in The India Fund during the fourth quarter valued at about $49,000. Farther Finance Advisors LLC grew its position in shares of The India Fund by 21,522.2% in the 4th quarter. Farther Finance Advisors LLC now owns 3,892 shares of the investment management company’s stock worth $61,000 after buying an additional 3,874 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of The India Fund during the 3rd quarter worth approximately $65,000. Elequin Capital LP purchased a new stake in The India Fund during the fourth quarter valued at approximately $143,000. Finally, Waverly Advisors LLC acquired a new stake in The India Fund in the fourth quarter valued at approximately $185,000. Hedge funds and other institutional investors own 10.76% of the company’s stock.

The India Fund Stock Performance

Shares of IFN stock traded up $0.18 on Monday, hitting $15.50. The stock had a trading volume of 239,580 shares, compared to its average volume of 179,063. The India Fund has a one year low of $13.76 and a one year high of $19.25. The business has a 50 day moving average price of $15.11 and a 200 day moving average price of $16.31.

The India Fund Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, February 21st were issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 11.87%. The ex-dividend date was Friday, February 21st.

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.