Morgan Stanley India Investment Fund (NYSE:IIF) Trading 1.2% Higher - Here's Why

Key Points

• Shares of the Morgan Stanley India Investment Fund (NYSE:IIF) rose by 1.2%, trading as high as $27.52 before closing at $27.46.
• Institutional investors and hedge funds hold 36.96% of the company's stock, with significant recent activity including new stakes from Elequin Capital and Main Management.
• The fund primarily invests in the public equity markets of India, targeting companies across various sectors.

Morgan Stanley India Investment Fund, Inc. (NYSE:IIF - Get Free Report)'s stock price traded up 1.2% on Tuesday . The stock traded as high as $27.52 and last traded at $27.46. 41,043 shares were traded during trading, an increase of 39% from the average session volume of 29,476 shares. The stock had previously closed at $27.13.

Morgan Stanley India Investment Fund Stock Performance

The firm has a 50 day simple moving average of $27.52 and a two-hundred day simple moving average of $25.58.

Hedge Funds Weigh In On Morgan Stanley India Investment Fund

Several large investors have recently bought and sold shares of the stock. Stifel Financial Corp increased its position in shares of Morgan Stanley India Investment Fund by 11.9% during the 4th quarter. Stifel Financial Corp now owns 73,289 shares of the company's stock valued at $1,852,000 after purchasing an additional 7,783 shares during the last quarter. Bank of America Corp DE increased its position in shares of Morgan Stanley India Investment Fund by 3.8% during the 4th quarter. Bank of America Corp DE now owns 110,250 shares of the company's stock valued at $2,786,000 after purchasing an additional 4,028 shares during the last quarter. Bulldog Investors LLP increased its position in shares of Morgan Stanley India Investment Fund by 42.5% during the 4th quarter. Bulldog Investors LLP now owns 287,644 shares of the company's stock valued at $7,295,000 after purchasing an additional 85,772 shares during the last quarter. Main Management LLC purchased a new stake in shares of Morgan Stanley India Investment Fund during the 4th quarter valued at $151,000. Finally, Saba Capital Management L.P. increased its position in shares of Morgan Stanley India Investment Fund by 9.7% during the 4th quarter. Saba Capital Management L.P. now owns 741,531 shares of the company's stock valued at $18,738,000 after purchasing an additional 65,828 shares during the last quarter. 36.96% of the stock is currently owned by institutional investors.

About Morgan Stanley India Investment Fund

Morgan Stanley India Investment Fund, Inc is a closed ended equity mutual fund launched and managed by Morgan Stanley Investment Management Inc The fund is co-managed by Morgan Stanley Investment Management Company. It invests in the public equity markets of India. The fund invests in stocks of companies operating across diversified sectors.