1607 Capital Partners LLC Takes $315,000 Position in The India Fund, Inc. (NYSE:IFN)

1607 Capital Partners LLC acquired a new position in The India Fund, Inc. (NYSE:IFN) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 20,000 shares of the investment management company’s stock, valued at approximately $315,000. 1607 Capital Partners LLC owned about 0.06% of The India Fund at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Noble Wealth Management PBC purchased a new position in The India Fund in the 4th quarter worth approximately $49,000. Wilmington Savings Fund Society FSB purchased a new position in The India Fund in the third quarter worth $65,000. Farther Finance Advisors LLC grew its position in 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 worth $61,000 after acquiring an additional 3,874 shares in the last quarter. Proficio Capital Partners LLC bought a new position in The India Fund in the fourth quarter valued at $198,000. Finally, Keystone Financial Group purchased a new stake in The India Fund during the fourth quarter valued at about $212,000. 10.76% of the stock is owned by hedge funds and other institutional investors.

The India Fund Trading Up 0.5 %

IFN opened at $15.04 on Thursday. The stock has a 50-day moving average price of $15.14 and a 200-day moving average price of $16.41. The India Fund, Inc. has a 12-month low of $13.76 and a 12-month high of $19.25.

The India Fund Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, February 21st were paid a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 12.23%. The ex-dividend date was Friday, February 21st.

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.