475,162 Shares in The India Fund, Inc. (NYSE:IFN) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. bought a new stake in The India Fund, Inc. (NYSE:IFN - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 475,162 shares of the investment management company's stock, valued at approximately $7,484,000. Raymond James Financial Inc. owned about 1.53% of The India Fund at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in IFN. Noble Wealth Management PBC purchased a new position in The India Fund in the fourth quarter worth approximately $49,000. Farther Finance Advisors LLC grew its holdings in shares of The India Fund by 21,522.2% during the 4th quarter. Farther Finance Advisors LLC now owns 3,892 shares of the investment management company's stock worth $61,000 after purchasing an additional 3,874 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of The India Fund during the 3rd quarter worth about $65,000. Proficio Capital Partners LLC acquired a new position in The India Fund in the fourth quarter valued at about $198,000. Finally, Matisse Capital acquired a new position in The India Fund in the fourth quarter valued at about $238,000. Hedge funds and other institutional investors own 10.76% of the company's stock.

The India Fund Trading Up 1.4 %

Shares of IFN opened at $15.72 on Wednesday. The firm has a 50-day simple moving average of $15.11 and a two-hundred day simple moving average of $16.30. The India Fund, Inc. has a 1-year low of $13.76 and a 1-year high of $19.25.

The India Fund Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, February 21st were given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 11.70%. The ex-dividend date of this dividend was Friday, February 21st.

The India Fund Profile

The India Fund, Inc is a close ended equity mutual fund launched and managed by Aberdeen Standard Investments (Asia) Limited. The fund invests in public equity markets of India. It seeks to invest in stocks of small-cap, mid-cap, and large-cap companies. The fund employs a quantitative and fundamental analysis with a bottom-up stock picking and asset allocation approach to create its portfolio.

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