1607 Capital Partners LLC Buys Shares of 20,000 The India Fund, Inc. (NYSE:IFN)

1607 Capital Partners LLC bought a new stake in The India Fund, Inc. (NYSE:IFN - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 20,000 shares of the investment management company's stock, valued at approximately $315,000. 1607 Capital Partners LLC owned 0.06% of The India Fund as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of IFN. Noble Wealth Management PBC purchased a new stake 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 in the third quarter valued at about $65,000. Farther Finance Advisors LLC lifted its stake in shares of The India Fund by 21,522.2% in the fourth quarter. Farther Finance Advisors LLC now owns 3,892 shares of the investment management company's stock worth $61,000 after buying an additional 3,874 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in The India Fund during the 4th quarter valued at about $198,000. Finally, Keystone Financial Group acquired a new stake in The India Fund in the 4th quarter valued at about $212,000. Hedge funds and other institutional investors own 10.76% of the company's stock.

The India Fund Trading Up 1.5 %

Shares of The India Fund stock traded up $0.24 on Tuesday, hitting $15.74. 47,009 shares of the company were exchanged, compared to its average volume of 178,590. The company has a 50-day moving average price of $15.11 and a 200 day moving average price of $16.31. The India Fund, Inc. has a 1-year low of $13.76 and a 1-year high of $19.25.

The India Fund Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, February 21st were issued a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 11.69%. The ex-dividend date was Friday, February 21st.

The India Fund 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.