Raymond James & Associates Grows Holdings in The India Fund, Inc. (NYSE:IFN)

Raymond James & Associates grew its position in shares of The India Fund, Inc. (NYSE:IFN) by 25.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,641 shares of the investment management company’s stock after purchasing an additional 5,129 shares during the period. Raymond James & Associates owned 0.09% of The India Fund worth $469,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Atria Wealth Solutions Inc. raised its holdings in The India Fund by 33.4% in the 3rd quarter. Atria Wealth Solutions Inc. now owns 215,380 shares of the investment management company’s stock valued at $3,752,000 after acquiring an additional 53,907 shares during the last quarter. Schnieders Capital Management LLC grew its holdings in The India Fund by 27.7% in the 3rd quarter. Schnieders Capital Management LLC now owns 24,059 shares of the investment management company’s stock valued at $419,000 after buying an additional 5,220 shares during the period. Avantax Advisory Services Inc. acquired a new position in shares of The India Fund during the 3rd quarter valued at about $212,000. Oppenheimer & Co. Inc. boosted its position in shares of The India Fund by 65.3% in the third quarter. Oppenheimer & Co. Inc. now owns 28,636 shares of the investment management company’s stock worth $499,000 after acquiring an additional 11,311 shares during the last quarter. Finally, Miracle Mile Advisors LLC purchased a new stake in The India Fund in the third quarter valued at approximately $190,000. 10.76% of the stock is currently owned by hedge funds and other institutional investors.

The India Fund Stock Up 1.9 %

NYSE:IFN opened at $18.28 on Friday. The India Fund, Inc. has a fifty-two week low of $15.12 and a fifty-two week high of $21.25. The firm’s 50 day moving average is $19.86 and its two-hundred day moving average is $18.57.

The India Fund Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, February 22nd were given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 9.41%. The ex-dividend date was Wednesday, February 21st. This is an increase from The India Fund’s previous quarterly dividend of $0.41.

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.