PFG Investments LLC Acquires Shares of 82,776 The India Fund, Inc. (NYSE:IFN)

PFG Investments LLC acquired a new stake in The India Fund, Inc. (NYSE:IFN - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 82,776 shares of the investment management company's stock, valued at approximately $1,694,000. PFG Investments LLC owned about 0.27% of The India Fund as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IFN. Atria Wealth Solutions Inc. increased its stake in shares of The India Fund by 16.6% during the fourth quarter. Atria Wealth Solutions Inc. now owns 251,216 shares of the investment management company's stock valued at $4,595,000 after buying an additional 35,836 shares during the period. Janney Montgomery Scott LLC increased its stake in shares of The India Fund by 1.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 124,597 shares of the investment management company's stock valued at $2,279,000 after buying an additional 1,576 shares during the period. Koshinski Asset Management Inc. increased its stake in shares of The India Fund by 104.9% during the fourth quarter. Koshinski Asset Management Inc. now owns 44,315 shares of the investment management company's stock valued at $811,000 after buying an additional 22,687 shares during the period. American Institute for Advanced Investment Management LLP increased its stake in shares of The India Fund by 212.4% during the first quarter. American Institute for Advanced Investment Management LLP now owns 41,821 shares of the investment management company's stock valued at $856,000 after buying an additional 28,434 shares during the period. Finally, International Assets Investment Management LLC purchased a new position in shares of The India Fund during the fourth quarter valued at approximately $669,000. Institutional investors own 10.76% of the company's stock.

The India Fund Price Performance

Shares of IFN traded up $0.34 during mid-day trading on Friday, hitting $18.28. 90,733 shares of the company's stock traded hands, compared to its average volume of 329,829. The India Fund, Inc. has a 1 year low of $15.12 and a 1 year high of $21.25. The business's 50-day moving average price is $19.81 and its 200-day moving average price is $18.58.

The India Fund Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, February 22nd were paid a dividend of $0.43 per share. The ex-dividend date was Wednesday, February 21st. This is a boost from The India Fund's previous quarterly dividend of $0.41. This represents a $1.72 annualized dividend and a dividend yield of 9.41%.

About The 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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