Raymond James & Associates lifted its stake in shares of The India Fund, Inc. (NYSE:IFN - Free Report) by 15.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 401,391 shares of the investment management company's stock after purchasing an additional 52,291 shares during the period. Raymond James & Associates owned 1.29% of The India Fund worth $7,634,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. International Assets Investment Management LLC acquired a new position in The India Fund during the second quarter worth $37,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in shares of The India Fund in the 2nd quarter valued at about $219,000. Rathbones Group PLC lifted its stake in The India Fund by 22.6% in the 2nd quarter. Rathbones Group PLC now owns 12,205 shares of the investment management company's stock valued at $218,000 after purchasing an additional 2,246 shares during the last quarter. Nwam LLC bought a new position in The India Fund during the first quarter worth about $259,000. Finally, Cetera Advisors LLC acquired a new position in The India Fund during the first quarter worth approximately $261,000. Institutional investors own 10.76% of the company's stock.
The India Fund Price Performance
NYSE:IFN traded up $0.13 on Thursday, hitting $17.60. The company's stock had a trading volume of 154,734 shares, compared to its average volume of 169,507. The India Fund, Inc. has a one year low of $15.87 and a one year high of $21.25. The stock has a fifty day moving average of $18.43 and a two-hundred day moving average of $18.13.
The India Fund Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, August 23rd were paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 11.14%. The ex-dividend date was Friday, August 23rd. This is a boost from The India Fund's previous quarterly dividend of $0.45.
The India Fund Profile
(
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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