Merrill Lynch, Pierce, Fenner & S has recently announced that it has increased stake in The India Fund Inc. (NYSE:IFN) by 11.71%. After grabbing 0.32 million shares, the institutional investor is now in possession of 33016.0 shares of the Financial Company. The new investment brought the stake of investor firm to 1.15% having worth around $4.67 million. Moreover, The Colony Group LLC increased its share by 0.1 million to have a control over 0.13 million shares. And Janney Montgomery Scott LLC raised its holdings to 6913.0 shares by acquiring 0.11 million shares or 0.41% of the stake.
The India Fund Inc. (IFN) concluded trading on 01/19/23 at a closing price of $15.78, with 0.2 million shares of worth about $3.14 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 3.10% during that period and on Thursday the price saw a gain of about 0.19%. Currently the company’s common shares owned by public are about 27.70M shares, out of which, 27.69M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 1 times over the past 12 months. They bought 1,000 shares in 1 of the transactions. In 0 selling transactions, insiders dumped 0 shares.
Lazard Glb. Active Fds. Plc – Eme, Guggenheim Multi Hedge Strategies, and Rydex Variable Trust – Multi Hedg are the top 3 mutual funds which are holding stakes in The India Fund Inc. Lazard Glb. Active Fds. Plc – Eme is currently holding 3444.0 shares of worth totaling $51006.0. The company recently came buying 0.0 shares which brought its stake up to 0.01% of the company’s outstanding shares. Guggenheim Multi Hedge Strategies sold 938.0 shares, after which its hold over company’s outstanding shares shrunk to 0.00%, leaving 0.0 shares with the mutual fund that have a worth of about $0.0. Rydex Variable Trust – Multi Hedg, after selling 0.0 shares, have now control over 0.00% of the stake in the company. It holds 387.0 shares of worth $0.0.
However, the stock later moved at a day high price of 15.88, or with a gain of 0.19%. Stock saw a price change of 1.15% in past 5 days and over the past one month there was a price change of 4.50%. Year-to-date (YTD), IFN shares are showing a performance of 6.55% which decreased to -23.33% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $14.50 but also hit the highest price of $20.64 during that period. The average intraday trading volume for The India Fund Inc. shares is 123.55K. The stock is currently trading 3.26% above its 20-day simple moving average (SMA20), while that difference is up 0.81% for SMA50 and it goes to -1.26% lower than SMA200.
Merrill Lynch, Pierce, Fenner & S acquired 0.32 million shares of The India Fund Inc. having value of about $4.67 million. Data submitted at the U.S SEC by Merrill Lynch, Pierce, Fenner & S revealed that the firm now holds 33016.0 shares in the company valued at close to $520992.48, or have control over 11.71% stake in the company. The India Fund Inc. (NYSE: IFN) currently have 27.70M outstanding shares and institutions hold larger chunk of about 21.07% of that. Holding of mutual funds in the company is about 0.05% while other institutional holders and individual stake holders have control over 18.86% and 0.01% of the stake respectively.
The stock has a current market capitalization of $437.05M. PE ratio of stock for trailing 12 months is 4.28, while it has posted earnings per share of $3.69 in the same period. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for IFN, volatility over the week remained 0.87% while standing at 1.49% over the month.
