Absolute Investment Advisers LLC bought a new stake in The India Fund, Inc. (NYSE:IFN - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 48,915 shares of the investment management company's stock, valued at approximately $770,000. Absolute Investment Advisers LLC owned 0.16% of The India Fund as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IFN. Wilmington Savings Fund Society FSB purchased a new position in shares of The India Fund during the 3rd quarter worth approximately $65,000. Planning Capital Management Corp boosted its position in shares of The India Fund by 21.3% during the third quarter. Planning Capital Management Corp now owns 4,181 shares of the investment management company's stock worth $80,000 after buying an additional 733 shares during the period. IHT Wealth Management LLC acquired a new stake in shares of The India Fund in the third quarter valued at $191,000. Pallas Capital Advisors LLC purchased a new stake in shares of The India Fund in the 4th quarter valued at $268,000. Finally, Nwam LLC purchased a new stake in shares of The India Fund in the 3rd quarter valued at $280,000. Hedge funds and other institutional investors own 10.76% of the company's stock.
The India Fund Stock Performance
The India Fund stock traded down $0.09 during midday trading on Thursday, reaching $16.05. 102,457 shares of the stock traded hands, compared to its average volume of 218,598. The company has a 50-day simple moving average of $16.31 and a two-hundred day simple moving average of $17.53. The India Fund, Inc. has a 12-month low of $15.60 and a 12-month high of $21.25.
The India Fund Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Thursday, November 21st were paid a $0.93 dividend. This is a positive change from The India Fund's previous quarterly dividend of $0.49. The ex-dividend date was Thursday, November 21st. This represents a $3.72 annualized dividend and a dividend yield of 23.18%.
The India Fund Company Profile
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Free Report)
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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