Rathbones Group PLC Purchases 2,246 Shares of The India Fund, Inc. (NYSE:IFN)

Rathbones Group PLC lifted its position in The India Fund, Inc. (NYSE:IFN) by 22.6% in the second quarter, HoldingsChannel.com reports. The firm owned 12,205 shares of the investment management company’s stock after acquiring an additional 2,246 shares during the period. Rathbones Group PLC’s holdings in The India Fund were worth $218,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in IFN. Raymond James & Associates lifted its holdings in shares of The India Fund by 168.3% during the 2nd quarter. Raymond James & Associates now owns 349,100 shares of the investment management company’s stock valued at $6,235,000 after purchasing an additional 218,980 shares in the last quarter. Atria Wealth Solutions Inc. lifted its holdings in The India Fund by 26.2% during the 2nd quarter. Atria Wealth Solutions Inc. now owns 368,268 shares of the investment management company’s stock worth $6,577,000 after purchasing an additional 76,436 shares during the last quarter. Wolverine Asset Management LLC bought a new stake in shares of The India Fund in the second quarter valued at about $846,000. American Institute for Advanced Investment Management LLP boosted its holdings in The India Fund by 212.4% in the 1st 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 purchasing an additional 28,434 shares during the period. Finally, Searle & CO. acquired a new stake in The India Fund during the second quarter worth approximately $386,000. Institutional investors own 10.76% of the company’s stock.

The India Fund Stock Performance

Shares of NYSE:IFN opened at $18.44 on Wednesday. The firm has a 50 day moving average of $18.22 and a 200-day moving average of $18.49. The India Fund, Inc. has a 12 month low of $15.56 and a 12 month high of $21.25.

The India Fund Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, August 23rd will be paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 10.63%. This is a boost from The India Fund’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Friday, August 23rd.

The India Fund Company 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.