Morgan Stanley India Investment Fund, Inc. $IIF Stock Position Reduced by Saba Capital Management L.P.

Key Points

• Saba Capital Management cut its Morgan Stanley India Investment Fund position by 23.6% in the first quarter, selling 233,027 shares and retaining 755,897 shares worth approximately $15.6 million.
• Saba still owned 8.01% of IIF, while institutional investors collectively held 36.96% of the fund. Several other institutions increased or initiated positions.
• IIF shares opened at $22.47, near their 50-day moving average of $22.23 and below their 200-day average of $22.60; the fund’s past-year trading range was $19.83 to $27.99.

Saba Capital Management L.P. decreased its position in Morgan Stanley India Investment Fund, Inc. (NYSE:IIF - Free Report) by 23.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 755,897 shares of the company's stock after selling 233,027 shares during the quarter. Saba Capital Management L.P. owned 8.01% of Morgan Stanley India Investment Fund worth $15,556,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in shares of Morgan Stanley India Investment Fund during the 2nd quarter valued at approximately $46,000. Osaic Holdings Inc. boosted its holdings in Morgan Stanley India Investment Fund by 203.7% in the second quarter. Osaic Holdings Inc. now owns 2,032 shares of the company's stock worth $57,000 after purchasing an additional 1,363 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Morgan Stanley India Investment Fund by 172.1% in the first quarter. PNC Financial Services Group Inc. now owns 5,960 shares of the company's stock worth $123,000 after purchasing an additional 3,770 shares during the period. SeaCrest Wealth Management LLC bought a new stake in Morgan Stanley India Investment Fund during the third quarter valued at $208,000. Finally, Commonwealth Equity Services LLC bought a new stake in Morgan Stanley India Investment Fund during the fourth quarter valued at $215,000. 36.96% of the stock is currently owned by institutional investors.

Morgan Stanley India Investment Fund Price Performance

Shares of NYSE:IIF opened at $22.47 on Tuesday. Morgan Stanley India Investment Fund, Inc. has a 1-year low of $19.83 and a 1-year high of $27.99. The company's fifty day moving average is $22.23 and its two-hundred day moving average is $22.60.

About Morgan Stanley India Investment Fund

Morgan Stanley India Investment Fund NYSE: IIF is a closed-end investment company sponsored by Morgan Stanley Investment Management and listed on the New York Stock Exchange. Incepted in December 1994, the fund provides U.S. investors with a dedicated vehicle for exposure to the securities of Indian companies. As a closed-end fund, it issues a fixed number of shares that trade on the NYSE, offering liquidity and the potential for share price discovery in addition to underlying net asset value.

The fund’s primary objective is long-term capital appreciation through investments in equity securities of Indian issuers.

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