India Fund, Inc. (NYSE:IFN) Short Interest Down 33.9% in July

Key Points

• Short interest in India Fund, Inc. (NYSE:IFN) declined by 33.9% in July, with total short interest at 121,500 shares.
• The company announced a quarterly dividend increase to $0.43, up from $0.41, resulting in an annualized yield of 10.9%.
• India Fund shares rose 0.5% to $15.7750 during trading, with trading volume at 132,632 shares.

India Fund, Inc. (NYSE:IFN - Get Free Report) was the recipient of a significant decrease in short interest during the month of July. As of July 31st, there was short interest totaling 121,500 shares, adecreaseof33.9% from the July 15th total of 183,900 shares. Currently,0.4% of the company's stock are short sold. Based on an average daily volume of 144,100 shares, the days-to-cover ratio is presently 0.8 days. Based on an average daily volume of 144,100 shares, the days-to-cover ratio is presently 0.8 days. Currently,0.4% of the company's stock are short sold.

India Fund Stock Performance

Shares of India Fund stock traded down $0.5050 on Friday, hitting $15.4250. The company had a trading volume of 162,979 shares, compared to its average volume of 161,953. India Fund has a 1 year low of $13.76 and a 1 year high of $19.25. The stock has a 50 day moving average of $15.91 and a 200-day moving average of $15.71.

India Fund Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, August 22nd will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, August 22nd. This is a positive change from India Fund's previous quarterly dividend of $0.41. This represents a $1.72 dividend on an annualized basis and a dividend yield of 11.2%.

Institutional Trading of India Fund

A number of institutional investors and hedge funds have recently modified their holdings of IFN. Colonial Trust Advisors purchased a new stake in shares of India Fund during the second quarter valued at approximately $31,000. Allworth Financial LP purchased a new stake in shares of India Fund during the second quarter valued at approximately $65,000. Farther Finance Advisors LLC increased its position in shares of India Fund by 19.7% during the first quarter. Farther Finance Advisors LLC now owns 4,660 shares of the investment management company's stock valued at $73,000 after acquiring an additional 768 shares during the last quarter. Elequin Capital LP purchased a new stake in shares of India Fund during the fourth quarter valued at approximately $143,000. Finally, Aberdeen Group plc purchased a new stake in shares of India Fund during the first quarter valued at approximately $161,000. 10.76% of the stock is owned by hedge funds and other institutional investors.

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.