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

India Fund, Inc. (NYSE:IFN) was the recipient of a large increase in short interest during the month of May. As of May 31st, there was short interest totalling 267,300 shares, an increase of 49.4% from the May 15th total of 178,900 shares. Approximately 0.9% of the shares of the company are sold short. Based on an average trading volume of 157,900 shares, the short-interest ratio is presently 1.7 days.

India Fund Trading Down 1.3%

Shares of India Fund stock opened at $15.98 on Wednesday. India Fund has a 52-week low of $13.76 and a 52-week high of $19.25. The company’s 50-day simple moving average is $15.98 and its 200-day simple moving average is $15.85.

India Fund Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Thursday, May 22nd will be given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 10.27%. The ex-dividend date of this dividend is Thursday, May 22nd.

Hedge Funds Weigh In On India Fund

Large investors have recently modified their holdings of the business. Noble Wealth Management PBC purchased a new position in India Fund in the fourth quarter valued at about $49,000. Farther Finance Advisors LLC increased its stake in 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 valued at $61,000 after purchasing an additional 3,874 shares in the last quarter. Elequin Capital LP acquired a new position in India Fund during the fourth quarter worth $143,000. Aberdeen Group plc purchased a new stake in India Fund during the first quarter worth $161,000. Finally, Brown Advisory Inc. acquired a new stake in India Fund in the first quarter valued at $162,000. 10.76% of the stock is owned by hedge funds and other institutional investors.

About 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.