Pettinga Financial Advisors LLC Reduces Position in India Fund, Inc. $IFN

Key Points

• Pettinga Financial Advisors LLC has reduced its stake in India Fund, Inc. by 51.8%, now owning 26,580 shares worth $439,000 after selling 28,521 shares in the 2nd quarter.
• The India Fund recently increased its quarterly dividend to $0.43, up from $0.41, resulting in an annualized dividend of $1.72 and a yield of 11.5%.
• As of the last reporting period, hedge funds and other institutional investors hold 10.76% of India Fund's stock, reflecting active interest from various investors in the company's performance.

Pettinga Financial Advisors LLC decreased its stake in shares of India Fund, Inc. (NYSE:IFN - Free Report) by 51.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 26,580 shares of the investment management company's stock after selling 28,521 shares during the period. Pettinga Financial Advisors LLC owned 0.09% of India Fund worth $439,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of IFN. Farther Finance Advisors LLC grew its position in shares of India Fund by 19.7% in the first quarter. Farther Finance Advisors LLC now owns 4,660 shares of the investment management company's stock valued at $73,000 after purchasing an additional 768 shares during the period. Janney Montgomery Scott LLC grew its position in shares of India Fund by 8.0% in the first quarter. Janney Montgomery Scott LLC now owns 186,602 shares of the investment management company's stock valued at $2,943,000 after purchasing an additional 13,747 shares during the period. Robertson Stephens Wealth Management LLC grew its position in shares of India Fund by 8.8% in the first quarter. Robertson Stephens Wealth Management LLC now owns 28,350 shares of the investment management company's stock valued at $447,000 after purchasing an additional 2,300 shares during the period. Cambridge Investment Research Advisors Inc. grew its position in shares of India Fund by 10.1% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 20,670 shares of the investment management company's stock valued at $326,000 after purchasing an additional 1,898 shares during the period. Finally, Consolidated Portfolio Review Corp grew its position in shares of India Fund by 7.8% in the first quarter. Consolidated Portfolio Review Corp now owns 114,295 shares of the investment management company's stock valued at $1,802,000 after purchasing an additional 8,314 shares during the period. Hedge funds and other institutional investors own 10.76% of the company's stock.

India Fund Stock Up 2.2%

Shares of NYSE:IFN opened at $14.96 on Thursday. India Fund, Inc. has a 52 week low of $13.76 and a 52 week high of $18.96. The business has a fifty day simple moving average of $15.08 and a 200-day simple moving average of $15.61.

India Fund Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Friday, August 22nd were given a $0.43 dividend. This is an increase from India Fund's previous quarterly dividend of $0.41. This represents a $1.72 dividend on an annualized basis and a dividend yield of 11.5%. The ex-dividend date of this dividend was Friday, August 22nd.

About India Fund

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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