Strs Ohio Takes $3.79 Million Position in 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 acquired a new stake in shares of India Fund, Inc. (NYSE:IFN - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 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 filing with the SEC.

Several other institutional investors and hedge funds have also recently made changes to their positions in IFN. Farther Finance Advisors LLC lifted its stake in 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 worth $73,000 after purchasing an additional 768 shares during the last quarter. Elequin Capital LP bought a new stake in India Fund in the fourth quarter worth $143,000. Aberdeen Group plc bought a new stake in India Fund in the first quarter worth $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 stake in India Fund in the fourth quarter worth $185,000. Hedge funds and other institutional investors own 10.76% of the company's stock.

India Fund Price Performance

India Fund stock opened at $15.02 on Monday. The firm has a fifty day simple moving average of $15.55 and a two-hundred day simple moving average of $15.66. India Fund, Inc. has a twelve month low of $13.76 and a twelve month high of $19.25.

India Fund Increases Dividend

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