India Fund, Inc. (NYSE:IFN) to Issue Quarterly Dividend of $0.43

Key Points

• India Fund, Inc. has announced a quarterly dividend increase to $0.43 per share, up from the previous $0.41, reflecting a 4.9% rise.
• The ex-dividend date is set for August 22nd, and the payment will be made to investors of record on September 30th, resulting in an annualized yield of 11.2%.
• As of recent trading, India Fund's stock is priced at $15.40, with a 1-year trading range between $13.76 and $19.25.

India Fund, Inc. (NYSE:IFN - Get Free Report) declared a quarterly dividend on Tuesday, August 12th, Wall Street Journal reports. Stockholders of record on Friday, August 22nd will be given a dividend of 0.43 per share by the investment management company on Tuesday, September 30th. This represents a c) dividend on an annualized basis and a dividend yield of 11.0%. The ex-dividend date of this dividend is Friday, August 22nd. This is a 4.9% increase from India Fund's previous quarterly dividend of $0.41.

India Fund Price Performance

Shares of NYSE IFN traded up $0.17 during midday trading on Friday, hitting $15.59. 100,847 shares of the company's stock traded hands, compared to its average volume of 158,998. The firm has a fifty day moving average of $15.97 and a 200 day moving average of $15.73. India Fund has a 1 year low of $13.76 and a 1 year high of $19.25.

Institutional Trading of India Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IFN. Raymond James Financial Inc. bought a new stake in shares of India Fund during the 4th quarter valued at $7,484,000. Walleye Capital LLC bought a new stake in India Fund during the fourth quarter valued at about $392,000. Beacon Pointe Advisors LLC grew its holdings in India Fund by 39.1% during the fourth quarter. Beacon Pointe Advisors LLC now owns 20,410 shares of the investment management company's stock valued at $321,000 after purchasing an additional 5,733 shares during the period. Jane Street Group LLC purchased a new stake in India Fund in the fourth quarter worth about $667,000. Finally, Almitas Capital LLC bought a new position in shares of India Fund in the fourth quarter worth about $814,000. 10.76% of the stock is owned by hedge funds and other institutional investors.

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.