Cetera Investment Advisers Buys 47,284 Shares of India Fund, Inc. $IFN

Cetera Investment Advisers raised its position in India Fund, Inc. (NYSE:IFN) by 10.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 522,340 shares of the investment management company’s stock after buying an additional 47,284 shares during the quarter. Cetera Investment Advisers owned about 1.68% of India Fund worth $8,634,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Journey Strategic Wealth LLC bought a new stake in India Fund during the 1st quarter valued at $218,000. LPL Financial LLC grew its position in shares of India Fund by 13.5% in the first quarter. LPL Financial LLC now owns 141,802 shares of the investment management company’s stock valued at $2,236,000 after purchasing an additional 16,877 shares in the last quarter. Aberdeen Group plc bought a new stake in shares of India Fund during the 1st quarter valued at $161,000. Raymond James Financial Inc. raised its stake in shares of India Fund by 11.1% during the 1st quarter. Raymond James Financial Inc. now owns 527,682 shares of the investment management company’s stock valued at $8,322,000 after purchasing an additional 52,520 shares during the period. Finally, Elequin Capital LP lifted its holdings in India Fund by 44.4% during the 1st quarter. Elequin Capital LP now owns 13,145 shares of the investment management company’s stock worth $207,000 after purchasing an additional 4,043 shares in the last quarter. Hedge funds and other institutional investors own 10.76% of the company’s stock.

India Fund Trading Down 6.2%

Shares of IFN opened at $14.28 on Friday. India Fund, Inc. has a twelve month low of $13.76 and a twelve month high of $17.55. The business’s 50-day moving average price is $14.98 and its 200-day moving average price is $15.58.

India Fund Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 12th. Stockholders of record on Friday, November 21st will be given a dividend of $0.906 per share. This is an increase from India Fund’s previous quarterly dividend of $0.43. The ex-dividend date is Friday, November 21st. This represents a $3.62 annualized dividend and a dividend yield of 25.4%.

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.