Cetera Investment Advisers Increases Stake in India Fund, Inc. (NYSE:IFN)

Key Points

• Cetera Investment Advisers increased its stake in India Fund, Inc. (NYSE:IFN) by 9.4%, now owning 475,056 shares worth approximately $7.5 million.
• The India Fund recently declared a quarterly dividend of $0.41, contributing to an annualized dividend yield of 10.6%.
• India Fund's stock is currently trading at $15.48, with a 52-week range between $13.76 and $19.25.

Cetera Investment Advisers grew its holdings in shares of India Fund, Inc. (NYSE:IFN - Free Report) by 9.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 475,056 shares of the investment management company's stock after purchasing an additional 40,798 shares during the quarter. Cetera Investment Advisers owned approximately 1.53% of India Fund worth $7,492,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. LPL Financial LLC increased its holdings in India Fund by 5.3% in the 4th quarter. LPL Financial LLC now owns 124,925 shares of the investment management company's stock worth $1,968,000 after acquiring an additional 6,333 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in India Fund in the 4th quarter worth about $7,484,000. Keystone Financial Group purchased a new stake in India Fund in the 4th quarter worth about $212,000. Walleye Capital LLC purchased a new stake in India Fund in the 4th quarter worth about $392,000. Finally, Integrity Wealth Advisors Inc. purchased a new stake in India Fund in the 4th quarter worth about $231,000. 10.76% of the stock is owned by hedge funds and other institutional investors.

India Fund Trading Up 0.6%

IFN traded up $0.09 during trading hours on Friday, hitting $15.55. The stock had a trading volume of 105,181 shares, compared to its average volume of 176,421. The company's fifty day simple moving average is $16.16 and its 200 day simple moving average is $15.76. India Fund, Inc. has a 1 year low of $13.76 and a 1 year high of $19.25.

India Fund Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Thursday, May 22nd were paid a $0.41 dividend. The ex-dividend date was Thursday, May 22nd. This represents a $1.64 annualized dividend and a yield of 10.5%.

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.