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

The India Fund, Inc. (NYSE:IFNGet Rating) saw a significant decline in short interest during the month of April. As of April 30th, there was short interest totalling 19,700 shares, a decline of 28.9% from the April 15th total of 27,700 shares. Based on an average trading volume of 113,400 shares, the short-interest ratio is presently 0.2 days.

Institutional investors and hedge funds have recently made changes to their positions in the business. Nwam LLC acquired a new position in The India Fund during the fourth quarter worth about $220,000. Royal Bank of Canada raised its position in The India Fund by 27.7% during the third quarter. Royal Bank of Canada now owns 10,734 shares of the investment management company’s stock worth $247,000 after acquiring an additional 2,327 shares during the last quarter. Guggenheim Capital LLC purchased a new stake in shares of The India Fund during the fourth quarter worth about $233,000. Csenge Advisory Group purchased a new stake in shares of The India Fund during the first quarter worth about $334,000. Finally, Schnieders Capital Management LLC grew its holdings in shares of The India Fund by 9.1% during the fourth quarter. Schnieders Capital Management LLC now owns 17,960 shares of the investment management company’s stock worth $379,000 after buying an additional 1,500 shares in the last quarter. Institutional investors own 28.39% of the company’s stock.

Shares of IFN opened at $17.04 on Friday. The company has a 50-day moving average of $18.83 and a two-hundred day moving average of $20.48. The India Fund has a 12-month low of $16.45 and a 12-month high of $23.78.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Friday, May 20th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 12.44%. The ex-dividend date is Thursday, May 19th.

The India Fund Company Profile (Get Rating)

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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