Morgan Stanley India Investment Fund, Inc. (NYSE:IIF – Get Rating) was the target of a significant growth in short interest in December. As of December 15th, there was short interest totalling 17,800 shares, a growth of 263.3% from the November 30th total of 4,900 shares. Based on an average daily trading volume, of 39,600 shares, the days-to-cover ratio is presently 0.4 days.
Morgan Stanley India Investment Fund Stock Performance
Shares of NYSE IIF traded up $0.02 during trading on Wednesday, hitting $20.25. The stock had a trading volume of 57,285 shares, compared to its average volume of 27,085. The firm has a fifty day moving average of $23.52 and a two-hundred day moving average of $23.70. Morgan Stanley India Investment Fund has a 12 month low of $19.97 and a 12 month high of $28.39.
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Morgan Stanley India Investment Fund Cuts Dividend
The company also recently disclosed a — dividend, which will be paid on Friday, January 13th. Shareholders of record on Friday, December 16th will be given a $0.3768 dividend. This represents a yield of 0.8%. The ex-dividend date is Thursday, December 15th.
Institutional Investors Weigh In On Morgan Stanley India Investment Fund
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Lazard Asset Management LLC increased its position in shares of Morgan Stanley India Investment Fund by 15.8% during the 3rd quarter. Lazard Asset Management LLC now owns 637,822 shares of the company's stock valued at $14,842,000 after purchasing an additional 87,156 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Morgan Stanley India Investment Fund by 0.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 503,503 shares of the company's stock worth $11,716,000 after buying an additional 4,675 shares during the last quarter. Karpus Management Inc. raised its position in Morgan Stanley India Investment Fund by 7.0% in the second quarter. Karpus Management Inc. now owns 164,260 shares of the company's stock worth $3,671,000 after acquiring an additional 10,766 shares during the period. UBS Group AG boosted 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's stock valued at $3,536,000 after acquiring an additional 827 shares during the last quarter. Finally, Bulldog Investors LLP bought a new position in shares of Morgan Stanley India Investment Fund during the 2nd quarter valued at approximately $1,750,000. Hedge funds and other institutional investors own 44.75% of the company's stock.
About Morgan Stanley India Investment Fund
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Morgan Stanley India Investment Fund, Inc is a closed ended equity mutual fund launched and managed by Morgan Stanley Investment Management Inc The fund is co-managed by Morgan Stanley Investment Management Company. It invests in the public equity markets of India. The fund invests in stocks of companies operating across diversified sectors.
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