Western Wealth Management LLC Purchases New Shares in The India Fund, Inc. (NYSE:IFN)

Western Wealth Management LLC purchased a new stake in shares of The India Fund, Inc. (NYSE:IFN) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 11,759 shares of the investment management company’s stock, valued at approximately $215,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Koshinski Asset Management Inc. lifted its holdings in The India Fund by 11.0% during the third quarter. Koshinski Asset Management Inc. now owns 21,628 shares of the investment management company’s stock valued at $377,000 after purchasing an additional 2,151 shares in the last quarter. Sunesis Advisors LLC purchased a new position in The India Fund during the third quarter valued at $211,000. Raymond James & Associates lifted its holdings in The India Fund by 17.0% during the third quarter. Raymond James & Associates now owns 20,512 shares of the investment management company’s stock valued at $357,000 after purchasing an additional 2,978 shares in the last quarter. Miracle Mile Advisors LLC purchased a new position in The India Fund during the third quarter valued at $190,000. Finally, Oppenheimer & Co. Inc. lifted its holdings in The India Fund by 65.3% during the third quarter. Oppenheimer & Co. Inc. now owns 28,636 shares of the investment management company’s stock valued at $499,000 after purchasing an additional 11,311 shares in the last quarter. Institutional investors and hedge funds own 10.76% of the company’s stock.

The India Fund Stock Up 1.7 %

IFN opened at $17.94 on Tuesday. The India Fund, Inc. has a 52-week low of $15.12 and a 52-week high of $21.25. The firm’s fifty day simple moving average is $19.97 and its two-hundred day simple moving average is $18.57.

The India Fund Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, February 22nd were issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 9.59%. This is an increase from The India Fund’s previous quarterly dividend of $0.41. The ex-dividend date was Wednesday, 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.