The India Fund, Inc. (NYSE:IFN) Short Interest Down 28.6% in October

The India Fund, Inc. (NYSE:IFN) saw a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 194,200 shares, a drop of 28.6% from the October 15th total of 272,100 shares. Based on an average trading volume of 89,600 shares, the days-to-cover ratio is currently 2.2 days.

The India Fund Trading Up 0.6 %

Shares of IFN stock opened at $16.85 on Monday. The stock has a 50 day moving average of $16.88 and a two-hundred day moving average of $16.45. The India Fund has a 12 month low of $14.40 and a 12 month high of $17.76.

The India Fund Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Wednesday, November 22nd will be issued a $0.41 dividend. The ex-dividend date is Tuesday, November 21st. This represents a $1.64 dividend on an annualized basis and a dividend yield of 9.73%.

Hedge Funds Weigh In On The India Fund

A number of hedge funds have recently modified their holdings of IFN. Atria Wealth Solutions Inc. raised its holdings in shares of The India Fund by 177.9% in the 2nd quarter. Atria Wealth Solutions Inc. now owns 161,473 shares of the investment management company’s stock worth $2,680,000 after buying an additional 103,376 shares in the last quarter. Consolidated Portfolio Review Corp acquired a new position in shares of The India Fund in the 1st quarter worth approximately $1,327,000. Imprint Wealth LLC acquired a new position in shares of The India Fund in the 2nd quarter worth approximately $5,104,000. Bank of America Corp DE raised its holdings in shares of The India Fund by 10.9% in the 1st quarter. Bank of America Corp DE now owns 266,978 shares of the investment management company’s stock worth $5,155,000 after buying an additional 26,257 shares in the last quarter. Finally, Koshinski Asset Management Inc. acquired a new position in shares of The India Fund in the 2nd quarter worth approximately $323,000. 8.11% 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.