Rivernorth Capital Management LLC purchased a new position in The India Fund, Inc. (NYSE:IFN - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 186,138 shares of the investment management company's stock, valued at approximately $3,540,000. Rivernorth Capital Management LLC owned approximately 0.60% of The India Fund at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of IFN. Wilmington Savings Fund Society FSB purchased a new stake in The India Fund during the 3rd quarter valued at $65,000. Public Employees Retirement System of Ohio purchased a new stake in shares of The India Fund during the third quarter valued at $873,000. EP Wealth Advisors LLC bought a new stake in The India Fund in the 3rd quarter worth about $1,264,000. Stifel Financial Corp raised its position in The India Fund by 24.3% in the 3rd 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 last quarter. Finally, IHT Wealth Management LLC bought a new position in The India Fund during the 3rd quarter valued at about $191,000. 10.76% of the stock is owned by hedge funds and other institutional investors.
The India Fund Stock Performance
Shares of NYSE IFN traded down $0.08 during trading on Friday, reaching $17.06. 117,776 shares of the company traded hands, compared to its average volume of 169,812. The firm has a 50 day simple moving average of $17.78 and a 200-day simple moving average of $18.01. The India Fund, Inc. has a 52-week low of $16.62 and a 52-week high of $21.25.
The India Fund Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Thursday, November 21st will be issued a $0.93 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $3.72 annualized dividend and a yield of 21.81%. This is a boost from The India Fund's previous quarterly dividend of $0.49.
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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