The India Fund, Inc. (NYSE:IFN) Short Interest Down 91.4% in June

The India Fund, Inc. (NYSE:IFN) saw a significant decline in short interest in the month of June. As of June 15th, there was short interest totalling 40,000 shares, a decline of 91.4% from the May 31st total of 464,400 shares. Based on an average daily volume of 263,100 shares, the days-to-cover ratio is currently 0.2 days.

The India Fund Price Performance

NYSE:IFN traded up $0.16 on Thursday, reaching $17.88. The company’s stock had a trading volume of 135,187 shares, compared to its average volume of 204,595. The India Fund has a 12-month low of $15.56 and a 12-month high of $21.25. The stock has a 50 day moving average price of $17.82 and a 200 day moving average price of $18.85.

The India Fund Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Thursday, May 30th will be given a $0.45 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $1.80 dividend on an annualized basis and a yield of 10.07%. This is an increase from The India Fund’s previous quarterly dividend of $0.43.

Institutional Investors Weigh In On The India Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. National Bank of Canada FI grew its stake in shares of The India Fund by 233.3% in the fourth quarter. National Bank of Canada FI now owns 2,000 shares of the investment management company’s stock valued at $37,000 after buying an additional 1,400 shares in the last quarter. Koshinski Asset Management Inc. grew its stake in shares of The India Fund by 104.9% in the fourth quarter. Koshinski Asset Management Inc. now owns 44,315 shares of the investment management company’s stock valued at $811,000 after buying an additional 22,687 shares in the last quarter. Atria Wealth Solutions Inc. grew its stake in shares of The India Fund by 16.6% in the fourth quarter. Atria Wealth Solutions Inc. now owns 251,216 shares of the investment management company’s stock valued at $4,595,000 after buying an additional 35,836 shares in the last quarter. Focus Financial Network Inc. ADV acquired a new stake in shares of The India Fund in the fourth quarter valued at $238,000. Finally, Janney Montgomery Scott LLC grew its stake in shares of The India Fund by 1.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 124,597 shares of the investment management company’s stock valued at $2,279,000 after buying an additional 1,576 shares in the last quarter. Hedge funds and other institutional investors own 10.76% of the company’s stock.

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.