Rivernorth Capital Management LLC Takes Position in The India Fund, Inc. (NYSE:IFN)

Rivernorth Capital Management LLC acquired a new position in shares of The India Fund, Inc. (NYSE:IFN) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 31,931 shares of the investment management company’s stock, valued at approximately $607,000. Rivernorth Capital Management LLC owned approximately 0.10% of The India Fund as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cetera Advisors LLC acquired a new position in shares of The India Fund during the first quarter worth $261,000. Csenge Advisory Group acquired a new stake in The India Fund in the second quarter worth about $362,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of The India Fund during the second quarter worth about $219,000. Miracle Mile Advisors LLC increased its holdings in shares of The India Fund by 26.2% during the second 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 in the last quarter. Finally, Raymond James & Associates increased its holdings in shares of The India Fund by 168.3% during the second quarter. Raymond James & Associates now owns 349,100 shares of the investment management company’s stock valued at $6,235,000 after acquiring an additional 218,980 shares in the last quarter. Hedge funds and other institutional investors own 10.76% of the company’s stock.

The India Fund Trading Up 1.4 %

IFN stock opened at $17.36 on Friday. The India Fund, Inc. has a 52 week low of $16.62 and a 52 week high of $21.25. The firm has a 50 day moving average of $17.94 and a 200 day moving average of $18.03.

The India Fund Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Thursday, November 21st will be issued a dividend of $0.93 per share. The ex-dividend date of this dividend is Thursday, November 21st. This is a positive change from The India Fund’s previous quarterly dividend of $0.49. This represents a $3.72 dividend on an annualized basis and a dividend yield of 21.43%.

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.