The India Fund, Inc. (NYSE:IFN) Shares Purchased by Stifel Financial Corp

Stifel Financial Corp raised its holdings in The India Fund, Inc. (NYSE:IFN) by 24.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 55,049 shares of the investment management company’s stock after acquiring an additional 10,764 shares during the period. Stifel Financial Corp’s holdings in The India Fund were worth $1,047,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. International Assets Investment Management LLC grew its position in shares of The India Fund by 1,850.8% in the third quarter. International Assets Investment Management LLC now owns 40,811 shares of the investment management company’s stock valued at $7,760,000 after purchasing an additional 38,719 shares during the period. Quarry LP acquired a new position in shares of The India Fund during the 2nd quarter valued at about $619,000. Concurrent Investment Advisors LLC purchased a new position in shares of The India Fund during the 3rd quarter worth about $881,000. Sea Otter Advisors LLC acquired a new stake in shares of The India Fund in the second quarter worth approximately $1,179,000. Finally, Rivernorth Capital Management LLC purchased a new stake in The India Fund in the third quarter valued at approximately $607,000. Hedge funds and other institutional investors own 10.76% of the company’s stock.

The India Fund Stock Down 0.5 %

NYSE:IFN opened at $16.11 on Tuesday. The firm’s 50 day moving average is $17.48 and its two-hundred day moving average is $17.97. The India Fund, Inc. has a fifty-two week low of $16.02 and a fifty-two week high of $21.25.

The India Fund Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Thursday, November 21st will be given a $0.93 dividend. This is a positive change from The India Fund’s previous quarterly dividend of $0.49. This represents a $3.72 annualized dividend and a dividend yield of 23.09%. The ex-dividend date of this dividend is Thursday, November 21st.

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.