Strs Ohio Purchases Shares of 240,000 India Fund, Inc. $IFN

Key Points

• Strs Ohio acquired a new stake in India Fund, Inc. valued at approximately $3.79 million, increasing its ownership to 0.77% of the company's stock.
• India Fund recently increased its quarterly dividend to $0.43 per share, up from $0.41, representing an annual yield of 11.5%.
• Several other institutional investors have also made moves in India Fund, with hedge funds and institutional investors now owning approximately 10.76% of its stock.

Strs Ohio purchased a new stake in shares of India Fund, Inc. (NYSE:IFN - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 240,000 shares of the investment management company's stock, valued at approximately $3,785,000. Strs Ohio owned approximately 0.77% of India Fund as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Penserra Capital Management LLC lifted its stake in shares of India Fund by 260.0% in the 1st quarter. Penserra Capital Management LLC now owns 972,936 shares of the investment management company's stock valued at $15,343,000 after purchasing an additional 702,686 shares during the last quarter. Raymond James Financial Inc. lifted its stake in shares of India Fund by 11.1% in the 1st quarter. Raymond James Financial Inc. now owns 527,682 shares of the investment management company's stock valued at $8,322,000 after purchasing an additional 52,520 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of India Fund in the 4th quarter valued at $667,000. Cetera Investment Advisers lifted its stake in shares of India Fund by 9.4% in the 1st quarter. Cetera Investment Advisers now owns 475,056 shares of the investment management company's stock valued at $7,492,000 after purchasing an additional 40,798 shares during the last quarter. Finally, Pettinga Financial Advisors LLC lifted its stake in shares of India Fund by 107.7% in the 1st quarter. Pettinga Financial Advisors LLC now owns 55,101 shares of the investment management company's stock valued at $869,000 after purchasing an additional 28,571 shares during the last quarter. 10.76% of the stock is currently owned by hedge funds and other institutional investors.

India Fund Stock Up 0.3%

Shares of IFN stock traded up $0.05 on Friday, hitting $15.08. The company's stock had a trading volume of 112,482 shares, compared to its average volume of 165,789. India Fund, Inc. has a fifty-two week low of $13.76 and a fifty-two week high of $19.25. The firm's fifty day moving average price is $15.44 and its 200-day moving average price is $15.67.

India Fund Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, August 22nd will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 11.4%. The ex-dividend date of this dividend is Friday, August 22nd. This is a boost from India Fund's previous quarterly dividend of $0.41.

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.