475,162 Shares in The India Fund, Inc. (NYSE:IFN) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new position in The India Fund, Inc. (NYSE:IFN) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 475,162 shares of the investment management company’s stock, valued at approximately $7,484,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Schnieders Capital Management LLC boosted its position in The India Fund by 4.2% in the fourth quarter. Schnieders Capital Management LLC now owns 32,034 shares of the investment management company’s stock worth $505,000 after purchasing an additional 1,300 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its position in The India Fund by 8.7% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 30,925 shares of the investment management company’s stock worth $487,000 after purchasing an additional 2,474 shares during the last quarter. Noble Wealth Management PBC purchased a new position in The India Fund in the fourth quarter worth about $49,000. Wilmington Savings Fund Society FSB purchased a new position in The India Fund in the third quarter worth about $65,000. Finally, IHT Wealth Management LLC purchased a new position in The India Fund in the third quarter worth about $191,000. 10.76% of the stock is owned by hedge funds and other institutional investors.

The India Fund Price Performance

Shares of NYSE:IFN opened at $15.87 on Friday. The stock’s 50-day simple moving average is $15.50 and its two-hundred day simple moving average is $16.86. The India Fund, Inc. has a 52-week low of $14.17 and a 52-week high of $20.83.

The India Fund Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 21st will be given a dividend of $0.46 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $1.84 dividend on an annualized basis and a dividend yield of 11.59%.

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.