Cassaday & Co Wealth Management LLC Grows Stock Holdings in The India Fund, Inc. (NYSE:IFN)

Cassaday & Co Wealth Management LLC boosted its holdings in The India Fund, Inc. (NYSE:IFN) by 5.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 15,409 shares of the investment management company’s stock after purchasing an additional 774 shares during the quarter. Cassaday & Co Wealth Management LLC’s holdings in The India Fund were worth $293,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Planning Capital Management Corp boosted its position in shares of The India Fund by 21.3% in the 3rd quarter. Planning Capital Management Corp now owns 4,181 shares of the investment management company’s stock valued at $80,000 after purchasing an additional 733 shares during the period. Beck Capital Management LLC raised its holdings in shares of The India Fund by 0.8% in the first quarter. Beck Capital Management LLC now owns 183,425 shares of the investment management company’s stock valued at $3,755,000 after buying an additional 1,418 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of The India Fund during the second quarter worth about $37,000. Rathbones Group PLC increased its position in The India Fund by 22.6% in the 2nd quarter. Rathbones Group PLC now owns 12,205 shares of the investment management company’s stock valued at $218,000 after acquiring an additional 2,246 shares during the period. Finally, 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 valued at $258,000 after acquiring an additional 3,000 shares during the last quarter. 10.76% of the stock is currently owned by institutional investors and hedge funds.

The India Fund Stock Up 1.7 %

The India Fund stock opened at $17.65 on Tuesday. The stock has a 50 day moving average of $18.26 and a two-hundred day moving average of $18.09. The India Fund, Inc. has a twelve month low of $16.62 and a twelve month high of $21.25.

The India Fund Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Thursday, November 21st will be paid a $0.93 dividend. This is a boost from The India Fund’s previous quarterly dividend of $0.49. This represents a $3.72 annualized dividend and a yield of 21.08%. The ex-dividend date is Thursday, November 21st.

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.