India Fund, Inc. $IFN Shares Sold by Landscape Capital Management L.L.C.

Key Points

• Landscape Capital Management L.L.C. reduced its stake in India Fund, Inc. by 66.6%, owning 96,361 shares worth $1.52 million after selling 192,045 shares in Q1.
• India Fund recently declared a quarterly dividend of $0.43, reflecting an increase from their previous quarterly dividend and offering an annualized yield of 11.4%.
• Institutional investors hold 10.76% of India Fund's stock, with several hedge funds adjusting their stakes in the company during the first quarter.

Landscape Capital Management L.L.C. lessened its holdings in shares of India Fund, Inc. (NYSE:IFN - Free Report) by 66.6% in the first quarter, according to its most recent filing with the SEC. The firm owned 96,361 shares of the investment management company's stock after selling 192,045 shares during the period. Landscape Capital Management L.L.C. owned 0.31% of India Fund worth $1,520,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Farther Finance Advisors LLC grew its stake in shares of India Fund by 19.7% during the 1st quarter. Farther Finance Advisors LLC now owns 4,660 shares of the investment management company's stock worth $73,000 after acquiring an additional 768 shares in the last quarter. Elequin Capital LP bought a new position in India Fund during the 4th quarter valued at $143,000. Aberdeen Group plc purchased a new position in India Fund in the 1st quarter valued at approximately $161,000. Brown Advisory Inc. bought a new stake in India Fund in the first quarter worth $162,000. Finally, Waverly Advisors LLC bought a new position in India Fund during the 4th quarter valued at approximately $185,000. 10.76% of the stock is currently owned by institutional investors.

India Fund Trading Up 0.7%

India Fund stock traded up $0.10 during midday trading on Wednesday, hitting $15.02. The stock had a trading volume of 122,434 shares, compared to its average volume of 171,750. The firm's fifty day moving average is $15.78 and its two-hundred day moving average is $15.68. India Fund, Inc. has a 52-week low of $13.76 and a 52-week high of $19.25.

India Fund Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, August 22nd will be issued a dividend of $0.43 per share. This is a positive change from India Fund's previous quarterly dividend of $0.41. The ex-dividend date is Friday, August 22nd. This represents a $1.72 annualized dividend and a yield of 11.5%.

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.