Short Interest in The India Fund, Inc. (NYSE:IFN) Rises By 103.3%

The India Fund, Inc. (NYSE:IFN) was the target of a large increase in short interest during the month of September. As of September 30th, there was short interest totalling 61,800 shares, an increase of 103.3% from the September 15th total of 30,400 shares. Based on an average daily volume of 120,400 shares, the days-to-cover ratio is presently 0.5 days.

Hedge Funds Weigh In On The India Fund

Several institutional investors have recently bought and sold shares of IFN. International Assets Investment Management LLC acquired a new position in shares of The India Fund during the second quarter worth approximately $37,000. Rathbones Group PLC boosted its position in The India Fund by 22.6% in the 2nd quarter. Rathbones Group PLC now owns 12,205 shares of the investment management company’s stock valued at $218,000 after buying an additional 2,246 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in shares of The India Fund in the 2nd quarter valued at $219,000. Miracle Mile Advisors LLC raised its position in shares of The India Fund by 26.2% during the second quarter. Miracle Mile Advisors LLC now owns 14,430 shares of the investment management company’s stock worth $258,000 after acquiring an additional 3,000 shares during the last quarter. Finally, Nwam LLC acquired a new position in shares of The India Fund during the first quarter valued at $259,000. Institutional investors own 10.76% of the company’s stock.

The India Fund Price Performance

Shares of The India Fund stock remained flat at $18.72 during mid-day trading on Friday. 65,519 shares of the company were exchanged, compared to its average volume of 173,090. The India Fund has a 1-year low of $15.56 and a 1-year high of $21.25. The company has a fifty day simple moving average of $18.47 and a 200-day simple moving average of $18.30.

The India Fund Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, August 23rd were issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 10.47%. This is a boost from The India Fund’s previous quarterly dividend of $0.45. The ex-dividend date was Friday, August 23rd.

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.