Morgan Stanley India Investment Fund, Inc. (NYSE:IIF – Get Rating) was the target of strong growth in short interest in December. As of December 15, there were 17,800 shares short-sold, up 263.3% from the November 30 total of 4,900 shares. Based on an average trading volume of 39,600 shares per day, the ratio of days covered is currently 0.4 days.
Morgan Stanley India Investment Fund Share Price Performance
Shares of the NYSE IIF climbed $0.02 during Wednesday’s trading to reach $20.25. The stock traded 57,285 shares with an average turnover of 27,085 shares. The company has a 50-day moving average of $23.52 and a 200-day moving average of $23.70. The Morgan Stanley India Investment Fund has a 12-month low of $19.97 and a 12-month high of $28.39.
Morgan Stanley India investment fund cuts dividend
The company recently announced a dividend to be paid out on Friday, January 13th. Shareholders of record on Friday, December 16 will receive a dividend of $0.3768. This represents his 0.8% yield. The ex-dividend date is Thursday, December 15.
Institutional Investor Joins Morgan Stanley India Investment Fund
Institutional investors and hedge funds have recently increased or decreased their stake in the company. Lazard Asset Management LLC increased its Morgan Stanley India Investment Fund equity position by 15.8% in the third quarter. Lazard Asset Management LLC now owns 637,822 shares worth $14,842,000 after he purchased an additional 87,156 shares during the previous quarter. Allspring Global Investments Holdings LLC increased its holding of Morgan Stanley India Investment Fund by 0.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 503,503 shares of the company worth $11,716,000 after purchasing an additional 4,675 of his shares last quarter. Karpus Management Inc. increased its position in Morgan Stanley India Investment Fund by 7.0% in the second quarter. Karpus Management Inc. now owns 164,260 shares worth $3,671,000 after acquiring an additional 10,766 shares during this period. UBS Group AG increased its stake in Morgan Stanley India Investment Fund by 0.6% in the first quarter. UBS Group AG now owns 140,812 shares of the company worth $3,536,000 after acquiring a further 827 shares during the previous quarter. Finally, Bulldog Investors LLP purchased a new position in Morgan Stanley India Investment Fund shares worth approximately $1,750,000 in the second quarter. Hedge funds and other institutional investors own 44.75% of the company’s shares.
About Morgan Stanley India Investment Fund
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Morgan Stanley India Investment Fund, Inc. is a closed-end equity mutual fund launched and managed by Morgan Stanley Investment Management, Inc. The fund is jointly managed by Morgan Stanley Investment Management Company. Invests in the Indian public equity market. The fund invests in shares of companies operating in diverse sectors.
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