The India Fund, Inc. (IFN) to Issue Quarterly Dividend of $0.41 on January 10th

The India Fund, Inc. (NYSE:IFN) announced a quarterly dividend on Thursday, November 9th, NASDAQ reports. Investors of record on Wednesday, November 22nd will be paid a dividend of 0.41 per share by the investment management company on Wednesday, January 10th. This represents a $1.64 dividend on an annualized basis and a yield of 9.30%. The ex-dividend date is Tuesday, November 21st.

The India Fund has raised its dividend by an average of 10.9% annually over the last three years.

The India Fund Stock Performance

Shares of IFN opened at $17.63 on Friday. The India Fund has a 12 month low of $14.40 and a 12 month high of $17.79. The stock’s 50-day moving average is $16.93 and its two-hundred day moving average is $16.50.

Hedge Funds Weigh In On The India Fund

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Barclays PLC purchased a new stake in shares of The India Fund during the first quarter valued at approximately $94,000. Advisor Group Holdings Inc. increased its stake in The India Fund by 37.0% during the 4th quarter. Advisor Group Holdings Inc. now owns 8,869 shares of the investment management company’s stock worth $132,000 after buying an additional 2,395 shares during the period. JPMorgan Chase & Co. boosted its position in The India Fund by 129,287.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 10,351 shares of the investment management company’s stock valued at $172,000 after buying an additional 10,343 shares during the last quarter. Osaic Holdings Inc. grew its stake in shares of The India Fund by 11.5% during the second quarter. Osaic Holdings Inc. now owns 13,229 shares of the investment management company’s stock valued at $220,000 after acquiring an additional 1,360 shares in the last quarter. Finally, LPL Financial LLC increased its position in shares of The India Fund by 11.3% during the second quarter. LPL Financial LLC now owns 13,692 shares of the investment management company’s stock worth $227,000 after acquiring an additional 1,385 shares during the last quarter. 8.11% of the stock is owned by institutional investors and hedge funds.

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.