Janney Montgomery Scott LLC acquired a new position in shares of The India Fund, Inc. (NYSE:IFN - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 172,855 shares of the investment management company's stock, valued at approximately $2,722,000. Janney Montgomery Scott LLC owned approximately 0.56% of The India Fund as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of IFN. International Assets Investment Management LLC lifted its holdings in shares of The India Fund by 1,850.8% during the third quarter. International Assets Investment Management LLC now owns 40,811 shares of the investment management company's stock valued at $7,760,000 after purchasing an additional 38,719 shares during the last quarter. Concurrent Investment Advisors LLC acquired a new stake in The India Fund during the 3rd quarter worth about $881,000. Rivernorth Capital Management LLC purchased a new stake in The India Fund during the third quarter valued at about $607,000. Stifel Financial Corp boosted its holdings in shares of The India Fund by 24.3% in the third quarter. Stifel Financial Corp now owns 55,049 shares of the investment management company's stock worth $1,047,000 after buying an additional 10,764 shares during the period. Finally, Penserra Capital Management LLC purchased a new position in shares of The India Fund in the third quarter worth approximately $4,794,000. 10.76% of the stock is currently owned by institutional investors and hedge funds.
The India Fund Stock Up 1.4 %
Shares of IFN stock traded up $0.23 during trading hours on Tuesday, reaching $16.13. 113,756 shares of the stock traded hands, compared to its average volume of 229,739. The India Fund, Inc. has a 1-year low of $15.60 and a 1-year high of $21.25. The business has a fifty day moving average price of $16.36 and a 200 day moving average price of $17.55.
The India Fund Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Thursday, November 21st were paid a dividend of $0.93 per share. This is an increase from The India Fund's previous quarterly dividend of $0.49. This represents a $3.72 annualized dividend and a yield of 23.07%. The ex-dividend date was Thursday, November 21st.
About The India Fund
(
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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