Yakira Capital Management Inc. Sells 15,519 Shares of The India Fund, Inc. (NYSE:IFN)

Yakira Capital Management Inc. cut its position in The India Fund, Inc. (NYSE:IFN) by 35.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 28,681 shares of the investment management company’s stock after selling 15,519 shares during the quarter. Yakira Capital Management Inc.’s holdings in The India Fund were worth $452,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. LPL Financial LLC boosted its holdings in shares of The India Fund by 5.3% in the 4th quarter. LPL Financial LLC now owns 124,925 shares of the investment management company’s stock worth $1,968,000 after acquiring an additional 6,333 shares in the last quarter. GWN Securities Inc. acquired a new position in The India Fund in the fourth quarter worth $253,000. Commonwealth Equity Services LLC grew its holdings in shares of The India Fund by 41.9% during the fourth quarter. Commonwealth Equity Services LLC now owns 84,409 shares of the investment management company’s stock worth $1,329,000 after purchasing an additional 24,929 shares during the last quarter. Farther Finance Advisors LLC increased its stake in shares of The India Fund by 21,522.2% in the fourth quarter. Farther Finance Advisors LLC now owns 3,892 shares of the investment management company’s stock valued at $61,000 after buying an additional 3,874 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of The India Fund in the fourth quarter valued at about $7,484,000. Institutional investors and hedge funds own 10.76% of the company’s stock.

The India Fund Trading Down 6.7 %

Shares of NYSE IFN opened at $14.37 on Friday. The India Fund, Inc. has a 12-month low of $14.17 and a 12-month high of $20.47. The firm’s 50-day simple moving average is $15.42 and its 200 day simple moving average is $16.69.

The India Fund Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, February 21st were given a dividend of $0.46 per share. The ex-dividend date was Friday, February 21st. This represents a $1.84 dividend on an annualized basis and a dividend yield of 12.81%.

About The India Fund

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.