The India Fund, Inc. (NYSE:IFN) Short Interest Update

The India Fund, Inc. (NYSE:IFN - Get Free Report) was the recipient of a significant growth in short interest in March. As of March 31st, there was short interest totalling 191,800 shares, a growth of 18.1% from the March 15th total of 162,400 shares. Based on an average trading volume of 206,300 shares, the short-interest ratio is currently 0.9 days. Currently, 0.6% of the company's shares are sold short.

The India Fund Stock Down 1.1 %

NYSE:IFN traded down $0.17 during midday trading on Friday, hitting $15.55. The stock had a trading volume of 150,476 shares, compared to its average volume of 178,907. The stock has a 50-day moving average of $15.10 and a 200 day moving average of $16.26. The India Fund has a one year low of $13.76 and a one year high of $19.25.

The India Fund Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, February 21st were given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 11.83%. The ex-dividend date of this dividend was Friday, February 21st.

Institutional Trading of The India Fund

Several institutional investors and hedge funds have recently made changes to their positions in IFN. Wolverine Asset Management LLC increased its position in The India Fund by 188.4% during the 4th quarter. Wolverine Asset Management LLC now owns 109,284 shares of the investment management company's stock valued at $1,721,000 after purchasing an additional 71,390 shares during the period. Janney Montgomery Scott LLC purchased a new position in The India Fund during the fourth quarter valued at approximately $2,722,000. Transcend Capital Advisors LLC increased its holdings in The India Fund by 25.7% during the fourth quarter. Transcend Capital Advisors LLC now owns 146,764 shares of the investment management company's stock valued at $2,312,000 after buying an additional 30,000 shares during the period. Calamos Advisors LLC raised its stake in The India Fund by 92.0% in the fourth quarter. Calamos Advisors LLC now owns 37,191 shares of the investment management company's stock worth $586,000 after buying an additional 17,816 shares in the last quarter. Finally, Absolute Investment Advisers LLC purchased a new stake in The India Fund during the fourth quarter worth $770,000. 10.76% of the stock is currently owned by institutional investors.

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.