Sea Otter Advisors LLC bought a new position in The India Fund, Inc. (NYSE:IFN - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 66,032 shares of the investment management company's stock, valued at approximately $1,179,000. The India Fund makes up about 8.4% of Sea Otter Advisors LLC's portfolio, making the stock its 3rd largest holding. Sea Otter Advisors LLC owned about 0.21% of The India Fund as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Raymond James & Associates grew its stake in shares of The India Fund by 168.3% in the 2nd quarter. Raymond James & Associates now owns 349,100 shares of the investment management company's stock valued at $6,235,000 after purchasing an additional 218,980 shares during the period. Wolverine Asset Management LLC acquired a new position in The India Fund during the 2nd quarter worth approximately $846,000. Atria Wealth Solutions Inc. boosted its position in The India Fund by 26.2% during the second quarter. Atria Wealth Solutions Inc. now owns 368,268 shares of the investment management company's stock valued at $6,577,000 after purchasing an additional 76,436 shares during the last quarter. Oppenheimer & Co. Inc. increased its holdings in The India Fund by 24.0% during the first quarter. Oppenheimer & Co. Inc. now owns 41,719 shares of the investment management company's stock worth $854,000 after buying an additional 8,076 shares during the last quarter. Finally, Focus Financial Network Inc. ADV bought a new stake in The India Fund in the fourth quarter valued at approximately $238,000. 10.76% of the stock is owned by institutional investors and hedge funds.
The India Fund Stock Performance
Shares of IFN remained flat at $19.11 during mid-day trading on Friday. 54,844 shares of the stock traded hands, compared to its average volume of 177,164. The stock has a 50 day moving average of $18.32 and a 200-day moving average of $18.41. The India Fund, Inc. has a 12 month low of $15.56 and a 12 month high of $21.25.
The India Fund Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, August 23rd will be issued a dividend of $0.49 per share. This is a boost from The India Fund's previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Friday, August 23rd. This represents a $1.96 dividend on an annualized basis and a yield of 10.26%.
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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