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.
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.