Commonwealth Equity Services LLC Has $1.33 Million Stake in The India Fund, Inc. (NYSE:IFN)

Commonwealth Equity Services LLC raised its holdings in The India Fund, Inc. (NYSE:IFN - Free Report) by 41.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 84,409 shares of the investment management company's stock after acquiring an additional 24,929 shares during the quarter. Commonwealth Equity Services LLC owned approximately 0.27% of The India Fund worth $1,329,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of IFN. Raymond James Financial Inc. acquired a new position in The India Fund in the fourth quarter valued at $7,484,000. Rivernorth Capital Management LLC bought a new position in shares of The India Fund in the 3rd quarter worth about $3,540,000. Janney Montgomery Scott LLC acquired a new position in shares of The India Fund in the 4th quarter valued at about $2,722,000. Transcend Capital Advisors LLC boosted its position in shares of The India Fund by 25.7% during the 4th quarter. Transcend Capital Advisors LLC now owns 146,764 shares of the investment management company's stock valued at $2,312,000 after purchasing an additional 30,000 shares in the last quarter. Finally, Wolverine Asset Management LLC grew its position in shares of The India Fund by 188.4% during the 4th quarter. Wolverine Asset Management LLC now owns 109,284 shares of the investment management company's stock worth $1,721,000 after buying an additional 71,390 shares during the period. Institutional investors and hedge funds own 10.76% of the company's stock.

The India Fund Stock Performance

Shares of NYSE:IFN traded down $0.27 during mid-day trading on Thursday, hitting $15.38. The company had a trading volume of 245,481 shares, compared to its average volume of 189,667. The India Fund, Inc. has a one year low of $14.17 and a one year high of $20.83. The firm has a fifty day moving average price of $15.45 and a 200 day moving average price of $16.73.

The India Fund Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, February 21st were given a dividend of $0.46 per share. The ex-dividend date was Friday, February 21st. This represents a $1.84 dividend on an annualized basis and a dividend yield of 11.96%.

The India Fund Company 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.