Raymond James & Associates Purchases 218,980 Shares of The India Fund, Inc. (NYSE:IFN)

Raymond James & Associates grew its position in The India Fund, Inc. (NYSE:IFN) by 168.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 349,100 shares of the investment management company’s stock after purchasing an additional 218,980 shares during the period. Raymond James & Associates owned about 1.12% of The India Fund worth $6,235,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Miracle Mile Advisors LLC raised its stake in The India Fund by 26.2% during the 2nd quarter. Miracle Mile Advisors LLC now owns 14,430 shares of the investment management company’s stock worth $258,000 after buying an additional 3,000 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in shares of The India Fund during the second quarter worth about $219,000. Csenge Advisory Group bought a new position in shares of The India Fund during the 2nd quarter valued at about $362,000. Cetera Advisors LLC acquired a new position in shares of The India Fund in the 1st quarter valued at approximately $261,000. Finally, Beck Capital Management LLC grew its position in shares of The India Fund by 0.8% in the 1st quarter. Beck Capital Management LLC now owns 183,425 shares of the investment management company’s stock valued at $3,755,000 after purchasing an additional 1,418 shares during the period. 10.76% of the stock is owned by institutional investors.

The India Fund Stock Performance

Shares of IFN stock opened at $18.20 on Wednesday. The India Fund, Inc. has a 52 week low of $15.56 and a 52 week high of $21.25. The company’s 50 day moving average price is $18.12 and its two-hundred day moving average price is $18.70.

The India Fund Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, August 23rd will be issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 10.77%. This is a positive change 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 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.