Nwam LLC Takes Position in The India Fund, Inc. (NYSE:IFN)

Nwam LLC purchased a new position in shares of The India Fund, Inc. (NYSE:IFN) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 14,743 shares of the investment management company’s stock, valued at approximately $280,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. International Assets Investment Management LLC purchased a new stake in shares of The India Fund in the 2nd quarter valued at about $37,000. Planning Capital Management Corp boosted its holdings in shares of The India Fund by 21.3% in the third quarter. Planning Capital Management Corp now owns 4,181 shares of the investment management company’s stock valued at $80,000 after acquiring an additional 733 shares during the period. Rathbones Group PLC grew its position in shares of The India Fund by 22.6% during the second quarter. Rathbones Group PLC now owns 12,205 shares of the investment management company’s stock worth $218,000 after acquiring an additional 2,246 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in shares of The India Fund in the 2nd quarter valued at $219,000. Finally, Miracle Mile Advisors LLC raised its position in The India Fund by 26.2% in the 2nd quarter. Miracle Mile Advisors LLC now owns 14,430 shares of the investment management company’s stock valued at $258,000 after purchasing an additional 3,000 shares during the last quarter. 10.76% of the stock is owned by hedge funds and other institutional investors.

The India Fund Price Performance

Shares of The India Fund stock opened at $17.34 on Tuesday. The company’s fifty day moving average is $18.20 and its two-hundred day moving average is $18.07. The India Fund, Inc. has a 1 year low of $16.62 and a 1 year high of $21.25.

The India Fund Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Thursday, November 21st will be issued a dividend of $0.93 per share. The ex-dividend date is Thursday, November 21st. This represents a $3.72 dividend on an annualized basis and a dividend yield of 21.46%. This is a positive change from The India Fund’s previous quarterly dividend of $0.49.

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.