Raymond James Financial Inc. acquired a new position in The India Fund, Inc. (NYSE:IFN - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 475,162 shares of the investment management company's stock, valued at approximately $7,484,000. Raymond James Financial Inc. owned 1.53% of The India Fund at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Noble Wealth Management PBC bought a new position in The India Fund during the 4th quarter worth approximately $49,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of The India Fund during the third quarter worth $65,000. IHT Wealth Management LLC bought a new position in The India Fund during the third quarter worth $191,000. Proficio Capital Partners LLC acquired a new position in The India Fund in the fourth quarter valued at $198,000. Finally, Nwam LLC bought a new stake in The India Fund during the third quarter valued at $280,000. 10.76% of the stock is currently owned by institutional investors.
The India Fund Stock Performance
Shares of IFN stock traded down $0.26 during mid-day trading on Wednesday, hitting $15.74. The company's stock had a trading volume of 131,971 shares, compared to its average volume of 189,513. The company's fifty day simple moving average is $15.51 and its 200-day simple moving average is $16.83. The India Fund, Inc. has a 52 week low of $14.17 and a 52 week high of $20.83.
The India Fund Cuts Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 21st will be issued a $0.46 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $1.84 dividend on an annualized basis and a yield of 11.69%.
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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