Almitas Capital LLC acquired a new stake in shares of The India Fund, Inc. (NYSE:IFN - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 51,700 shares of the investment management company's stock, valued at approximately $814,000. Almitas Capital LLC owned about 0.17% of The India Fund at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. Noble Wealth Management PBC purchased a new stake in shares of The India Fund in the 4th quarter worth $49,000. Farther Finance Advisors LLC lifted its position in shares of The India Fund by 21,522.2% during the fourth quarter. Farther Finance Advisors LLC now owns 3,892 shares of the investment management company's stock worth $61,000 after purchasing an additional 3,874 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of The India Fund in the 3rd quarter worth $65,000. Proficio Capital Partners LLC purchased a new stake in shares of The India Fund in the 4th quarter worth approximately $198,000. Finally, Keystone Financial Group purchased a new stake in shares of The India Fund during the fourth quarter valued at about $212,000. 10.76% of the stock is currently owned by hedge funds and other institutional investors.
The India Fund Trading Down 2.7 %
Shares of NYSE IFN traded down $0.44 during midday trading on Wednesday, reaching $15.83. The company had a trading volume of 109,944 shares, compared to its average volume of 178,406. The business's 50-day simple moving average is $15.22 and its 200 day simple moving average is $16.12. 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 company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, February 21st were paid a dividend of $0.46 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $1.84 annualized dividend and a yield of 11.62%.
The India Fund Company Profile
(
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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