The India Fund, Inc. (NYSE:IFN) Short Interest Down 5.8% in March

The India Fund, Inc. (NYSE:IFN - Get Free Report) was the recipient of a large drop in short interest in the month of March. As of March 31st, there was short interest totalling 676,400 shares, a drop of 5.8% from the March 15th total of 718,100 shares. Based on an average trading volume of 158,500 shares, the days-to-cover ratio is currently 4.3 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in IFN. Morgan Stanley increased its holdings in shares of The India Fund by 15.5% during the 3rd quarter. Morgan Stanley now owns 1,084,797 shares of the investment management company's stock worth $18,897,000 after purchasing an additional 145,590 shares during the period. Royal Bank of Canada increased its stake in The India Fund by 55.2% in the fourth quarter. Royal Bank of Canada now owns 178,481 shares of the investment management company's stock valued at $3,265,000 after acquiring an additional 63,497 shares during the period. Atria Wealth Solutions Inc. increased its stake in The India Fund by 33.4% in the third quarter. Atria Wealth Solutions Inc. now owns 215,380 shares of the investment management company's stock valued at $3,752,000 after acquiring an additional 53,907 shares during the period. Imprint Wealth LLC bought a new stake in The India Fund in the second quarter valued at about $5,104,000. Finally, International Assets Investment Management LLC bought a new stake in The India Fund in the fourth quarter valued at about $669,000. Institutional investors own 10.76% of the company's stock.

The India Fund Stock Performance

IFN traded down $0.11 during trading on Tuesday, hitting $18.37. The stock had a trading volume of 1,004,506 shares, compared to its average volume of 179,897. The company has a 50 day simple moving average of $20.15 and a 200-day simple moving average of $18.55. The India Fund has a 12 month low of $15.12 and a 12 month high of $21.25.

The India Fund Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, February 22nd were issued a dividend of $0.43 per share. This is an increase from The India Fund's previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $1.72 annualized dividend and a dividend yield of 9.37%.

About The 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.