Rivernorth Capital Management LLC Makes New Investment in The India Fund, Inc. (NYSE:IFN)

Rivernorth Capital Management LLC purchased a new stake in The India Fund, Inc. (NYSE:IFN - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 31,931 shares of the investment management company's stock, valued at approximately $607,000. Rivernorth Capital Management LLC owned approximately 0.10% of The India Fund as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. International Assets Investment Management LLC purchased a new position in shares of The India Fund during the 2nd quarter valued at about $37,000. Planning Capital Management Corp raised its holdings in shares of The India Fund by 21.3% during the 3rd quarter. Planning Capital Management Corp now owns 4,181 shares of the investment management company's stock valued at $80,000 after buying an additional 733 shares in the last quarter. IHT Wealth Management LLC purchased a new position in shares of The India Fund during the 3rd quarter valued at about $191,000. Rathbones Group PLC raised its holdings in shares of The India Fund by 22.6% during the 2nd quarter. Rathbones Group PLC now owns 12,205 shares of the investment management company's stock valued at $218,000 after buying an additional 2,246 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in shares of The India Fund during the 2nd quarter valued at about $219,000. Hedge funds and other institutional investors own 10.76% of the company's stock.

The India Fund Stock Performance

Shares of NYSE IFN traded up $0.14 during trading hours on Friday, reaching $17.50. 112,356 shares of the stock traded hands, compared to its average volume of 170,954. The India Fund, Inc. has a 52-week low of $16.62 and a 52-week high of $21.25. The company's 50-day simple moving average is $17.91 and its two-hundred day simple moving average is $18.03.

The India Fund Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Thursday, November 21st will be issued a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 21.26%. This is a boost from The India Fund's previous quarterly dividend of $0.49. The ex-dividend date is Thursday, November 21st.

The India Fund Company Profile

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.