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

The India Fund, Inc. (NYSE:IFN) saw a significant 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 trading volume, of 158,500 shares, the days-to-cover ratio is presently 4.3 days.

The India Fund Stock Performance

Shares of IFN stock traded down $0.03 during trading hours on Tuesday, hitting $18.44. The company had a trading volume of 26,600 shares, compared to its average volume of 166,361. The India Fund has a fifty-two week low of $15.12 and a fifty-two week high of $21.25. The company’s fifty day moving average is $20.18 and its 200 day moving average is $18.54.

The India Fund Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, February 22nd were issued a $0.43 dividend. The ex-dividend date of this dividend was Wednesday, February 21st. This is a positive change from The India Fund’s previous quarterly dividend of $0.41. This represents a $1.72 dividend on an annualized basis and a yield of 9.33%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of IFN. National Bank of Canada FI grew its position in shares of The India Fund by 233.3% during the fourth quarter. National Bank of Canada FI now owns 2,000 shares of the investment management company’s stock worth $37,000 after buying an additional 1,400 shares in the last quarter. Barclays PLC acquired a new stake in shares of The India Fund in the 1st quarter valued at $94,000. Advisor Group Holdings Inc. increased its holdings in The India Fund by 37.0% in the fourth quarter. Advisor Group Holdings Inc. now owns 8,869 shares of the investment management company’s stock valued at $132,000 after buying an additional 2,395 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in The India Fund by 129,287.5% during the second quarter. JPMorgan Chase & Co. now owns 10,351 shares of the investment management company’s stock worth $172,000 after purchasing an additional 10,343 shares during the last quarter. Finally, Miracle Mile Advisors LLC acquired a new position in The India Fund in the third quarter valued at approximately $190,000. 10.76% of the stock is owned by institutional investors and hedge funds.

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.