Pettinga Financial Advisors LLC Buys 28,571 Shares of India Fund, Inc. (NYSE:IFN)

Pettinga Financial Advisors LLC raised its holdings in India Fund, Inc. (NYSE:IFN - Free Report) by 107.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 55,101 shares of the investment management company's stock after buying an additional 28,571 shares during the quarter. Pettinga Financial Advisors LLC owned 0.18% of India Fund worth $869,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its stake in India Fund by 21,522.2% in the fourth quarter. Farther Finance Advisors LLC now owns 3,892 shares of the investment management company's stock valued at $61,000 after buying an additional 3,874 shares during the period. Elequin Capital LP acquired a new position in shares of India Fund during the fourth quarter worth approximately $143,000. Brown Advisory Inc. acquired a new position in shares of India Fund during the first quarter worth approximately $162,000. Waverly Advisors LLC acquired a new position in shares of India Fund during the fourth quarter worth approximately $185,000. Finally, Proficio Capital Partners LLC acquired a new position in shares of India Fund during the fourth quarter worth approximately $198,000. 10.76% of the stock is owned by institutional investors and hedge funds.

India Fund Price Performance

Shares of NYSE:IFN traded down $0.28 during trading on Friday, reaching $15.79. 866,067 shares of the stock were exchanged, compared to its average volume of 160,658. India Fund, Inc. has a 1-year low of $13.76 and a 1-year high of $19.25. The stock has a fifty day moving average of $16.30 and a two-hundred day moving average of $15.78.

India Fund Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Thursday, May 22nd were given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 10.39%. The ex-dividend date of this dividend was Thursday, May 22nd.

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.