Penserra Capital Management LLC bought a new position in The India Fund, Inc. (NYSE:IFN - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 252,059 shares of the investment management company's stock, valued at approximately $4,794,000. Penserra Capital Management LLC owned approximately 0.81% of The India Fund at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the company. Cetera Advisors LLC purchased a new stake in The India Fund during the first quarter valued at approximately $261,000. Csenge Advisory Group purchased a new stake in The India Fund during the second quarter valued at approximately $362,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in shares of The India Fund during the second quarter valued at approximately $219,000. Miracle Mile Advisors LLC grew its stake in shares of The India Fund by 26.2% during the second quarter. Miracle Mile Advisors LLC now owns 14,430 shares of the investment management company's stock valued at $258,000 after buying an additional 3,000 shares during the last quarter. Finally, Raymond James & Associates grew its stake in shares of The India Fund by 168.3% during the second quarter. Raymond James & Associates now owns 349,100 shares of the investment management company's stock valued at $6,235,000 after buying an additional 218,980 shares during the last quarter. 10.76% of the stock is currently owned by hedge funds and other institutional investors.
The India Fund Trading Up 1.4 %
Shares of IFN traded up $0.23 during mid-day trading on Monday, reaching $17.34. 147,927 shares of the company's stock traded hands, compared to its average volume of 172,611. The stock's 50-day moving average is $18.20 and its two-hundred day moving average is $18.07. The India Fund, Inc. has a 12 month low of $16.62 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 Friday, January 10th. Stockholders of record on Thursday, November 21st will be paid a dividend of $0.93 per share. This is a boost from The India Fund's previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $3.72 dividend on an annualized basis and a dividend yield of 21.46%.
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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