Janney Montgomery Scott LLC increased its holdings in shares of The India Fund, Inc. (NYSE:IFN – Get Rating) by 6.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 112,766 shares of the investment management company's stock after acquiring an additional 6,913 shares during the period. Janney Montgomery Scott LLC owned approximately 0.41% of The India Fund worth $1,813,000 at the end of the most recent reporting period.
Several other hedge funds have also bought and sold shares of IFN. Bank of America Corp DE boosted its stake in The India Fund by 10.9% during the first quarter. Bank of America Corp DE now owns 266,978 shares of the investment management company's stock worth $5,155,000 after acquiring an additional 26,257 shares in the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of The India Fund in the second quarter worth approximately $361,000. Lazard Asset Management LLC lifted its stake in shares of The India Fund by 0.8% in the second quarter. Lazard Asset Management LLC now owns 2,345,745 shares of the investment management company's stock worth $38,235,000 after buying an additional 18,594 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in shares of The India Fund by 25.5% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 79,830 shares of the investment management company's stock worth $1,542,000 after buying an additional 16,242 shares in the last quarter. Finally, Cibc World Market Inc. lifted its stake in shares of The India Fund by 39.0% in the first quarter. Cibc World Market Inc. now owns 37,373 shares of the investment management company's stock worth $722,000 after buying an additional 10,490 shares in the last quarter. Institutional investors own 11.92% of the company's stock.
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The India Fund Trading Down 0.2 %
Shares of NYSE IFN opened at $15.60 on Friday. The firm's 50 day moving average price is $15.86 and its 200-day moving average price is $16.52. The India Fund, Inc. has a 52-week low of $14.65 and a 52-week high of $22.23.
The India Fund Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, January 11th. Stockholders of record on Tuesday, November 22nd were paid a $1.61 dividend. This represents a $6.44 annualized dividend and a dividend yield of 41.28%. The ex-dividend date of this dividend was Monday, November 21st. This is an increase from The India Fund's previous quarterly dividend of $0.46.
About The India Fund
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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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