Saba Capital Management L.P. lowered its stake in shares of Morgan Stanley India Investment Fund, Inc. (NYSE:IIF – Free Report) by 23.6% in the first quarter, HoldingsChannel reports. The firm owned 755,897 shares of the company’s stock after selling 233,027 shares during the quarter. Saba Capital Management L.P. owned approximately 0.08% of Morgan Stanley India Investment Fund worth $15,556,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new stake in Morgan Stanley India Investment Fund in the second quarter worth $46,000. Osaic Holdings Inc. boosted its holdings in shares of Morgan Stanley India Investment Fund by 203.7% during the second quarter. Osaic Holdings Inc. now owns 2,032 shares of the company’s stock valued at $57,000 after acquiring an additional 1,363 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of Morgan Stanley India Investment Fund by 172.1% during the first quarter. PNC Financial Services Group Inc. now owns 5,960 shares of the company’s stock valued at $123,000 after acquiring an additional 3,770 shares during the period. SeaCrest Wealth Management LLC bought a new position in shares of Morgan Stanley India Investment Fund during the third quarter worth about $208,000. Finally, Commonwealth Equity Services LLC bought a new position in shares of Morgan Stanley India Investment Fund during the fourth quarter worth about $215,000. 36.96% of the stock is currently owned by institutional investors.
Morgan Stanley India Investment Fund Stock Up 0.8%
IIF stock opened at $22.47 on Tuesday. Morgan Stanley India Investment Fund, Inc. has a fifty-two week low of $19.83 and a fifty-two week high of $27.99. The firm’s 50-day simple moving average is $22.23 and its 200 day simple moving average is $22.60.
About Morgan Stanley India Investment Fund
Morgan Stanley India Investment Fund (NYSE:IIF) is a closed-end investment company sponsored by Morgan Stanley Investment Management and listed on the New York Stock Exchange. Incepted in December 1994, the fund provides U.S. investors with a dedicated vehicle for exposure to the securities of Indian companies. As a closed-end fund, it issues a fixed number of shares that trade on the NYSE, offering liquidity and the potential for share price discovery in addition to underlying net asset value.
The fund’s primary objective is long-term capital appreciation through investments in equity securities of Indian issuers.
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