Penserra Capital Management LLC boosted its stake in shares of India Fund, Inc. (NYSE:IFN - Free Report) by 260.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 972,936 shares of the investment management company's stock after purchasing an additional 702,686 shares during the period. Penserra Capital Management LLC owned approximately 3.13% of India Fund worth $15,343,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new stake in India Fund during the fourth quarter worth $7,484,000. Almitas Capital LLC purchased a new position in India Fund during the fourth quarter valued at $814,000. Jane Street Group LLC purchased a new position in India Fund during the fourth quarter valued at $667,000. Quantedge Capital Pte Ltd purchased a new position in India Fund during the fourth quarter valued at $443,000. Finally, Pettinga Financial Advisors LLC purchased a new position in India Fund during the fourth quarter valued at $418,000. Hedge funds and other institutional investors own 10.76% of the company's stock.
India Fund Stock Performance
IFN traded down $0.12 during midday trading on Wednesday, hitting $16.18. 53,993 shares of the company traded hands, compared to its average volume of 158,272. India Fund, Inc. has a 52-week low of $13.76 and a 52-week high of $19.25. The business has a 50 day simple moving average of $16.30 and a two-hundred day simple moving average of $15.78.
India Fund Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Thursday, May 22nd were given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 10.14%. The ex-dividend date of this dividend was Thursday, May 22nd.
India Fund 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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