Raymond James Financial Inc. bought a new position in shares of The India Fund, Inc. (NYSE:IFN - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 475,162 shares of the investment management company's stock, valued at approximately $7,484,000. Raymond James Financial Inc. owned about 1.53% of The India Fund as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently made changes to their positions in the company. Wolverine Asset Management LLC grew its holdings in shares of The India Fund by 188.4% during the fourth quarter. Wolverine Asset Management LLC now owns 109,284 shares of the investment management company's stock worth $1,721,000 after purchasing an additional 71,390 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of The India Fund during the fourth quarter worth $2,722,000. Transcend Capital Advisors LLC grew its holdings in shares of The India Fund by 25.7% during the fourth quarter. Transcend Capital Advisors LLC now owns 146,764 shares of the investment management company's stock worth $2,312,000 after purchasing an additional 30,000 shares during the last quarter. Calamos Advisors LLC grew its holdings in shares of The India Fund by 92.0% during the fourth quarter. Calamos Advisors LLC now owns 37,191 shares of the investment management company's stock worth $586,000 after purchasing an additional 17,816 shares during the last quarter. Finally, Absolute Investment Advisers LLC bought a new stake in shares of The India Fund during the fourth quarter worth $770,000. Institutional investors own 10.76% of the company's stock.
The India Fund Price Performance
Shares of IFN stock traded up $0.24 during trading hours on Monday, hitting $15.80. 126,949 shares of the company's stock were exchanged, compared to its average volume of 179,051. The stock's 50-day moving average is $15.10 and its 200-day moving average is $16.21. The India Fund, Inc. has a 52 week low of $13.76 and a 52 week high of $19.25.
The India Fund Cuts Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, February 21st were issued a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 11.65%. The ex-dividend date of this dividend was Friday, February 21st.
The India Fund Profile
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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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