India Fund, Inc. (NYSE:IFN – Get Free Report) declared a quarterly dividend on Tuesday, November 10th. Stockholders of record on Friday, November 20th will be given a dividend of $0.37 per share by the investment management company on Monday, November 30th. This represents a $1.48 annualized dividend and a dividend yield of 12.8%. The ex-dividend date is Friday, November 20th.
India Fund Stock Performance
Shares of IFN traded down $0.04 on Wednesday, reaching $11.53. 55,067 shares of the company’s stock traded hands, compared to its average volume of 198,704. The stock’s 50 day simple moving average is $10.80 and its two-hundred day simple moving average is $11.70. India Fund has a 52-week low of $10.13 and a 52-week high of $15.43.
Institutional Investors Weigh In On India Fund
Large investors have recently made changes to their positions in the business. City of London Investment Management Co. Ltd. boosted its holdings in shares of India Fund by 134.7% in the 3rd quarter. City of London Investment Management Co. Ltd. now owns 1,923,094 shares of the investment management company’s stock worth $20,462,000 after buying an additional 1,103,579 shares during the last quarter. Rivernorth Capital Management LLC purchased a new stake in India Fund during the second quarter worth about $986,000. Readystate Asset Management LP purchased a new stake in India Fund during the second quarter worth about $405,000. Calamos Advisors LLC purchased a new stake in India Fund during the third quarter worth about $333,000. Finally, Cooper Financial Group purchased a new stake in India Fund during the third quarter worth about $142,000. 10.76% of the stock is owned by hedge funds and other institutional investors.
About India Fund
The India Fund, Inc. (NYSE: IFN) is a closed-end investment fund focused on India. Its objective is long-term capital appreciation, and it invests primarily in the equity securities of companies with economic ties to India. The fund provides investors with access to a portfolio of Indian companies across multiple industries. It is managed by abrdn Asia Limited.
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