The India Fund, Inc. (NYSE:IFN – Get Rating) declared a quarterly dividend on Monday, February 13th, Wall Street Journal reports. Stockholders of record on Tuesday, February 21st will be paid a dividend of 0.43 per share by the investment management company on Friday, March 31st. This represents a $1.72 annualized dividend and a dividend yield of 10.63%. The ex-dividend date is Friday, February 17th.
The India Fund has increased its dividend by an average of 10.9% per year over the last three years.
Get The India Fund alerts:The India Fund Stock Down 0.4 %
Shares of NYSE IFN traded down $0.07 during trading hours on Monday, hitting $16.18. The company's stock had a trading volume of 79,331 shares, compared to its average volume of 131,791. The India Fund has a 12 month low of $14.65 and a 12 month high of $20.21. The business has a 50-day simple moving average of $15.58 and a 200-day simple moving average of $16.45.
Institutional Investors Weigh In On The India Fund
Several institutional investors and hedge funds have recently bought and sold shares of IFN. Bank of America Corp DE raised its holdings in The India Fund by 10.9% in the 1st quarter. Bank of America Corp DE now owns 266,978 shares of the investment management company's stock worth $5,155,000 after purchasing an additional 26,257 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its position in shares of The India Fund by 25.5% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 79,830 shares of the investment management company's stock valued at $1,542,000 after buying an additional 16,242 shares during the period. Cibc World Market Inc. raised its stake in The India Fund by 39.0% in the first quarter. Cibc World Market Inc. now owns 37,373 shares of the investment management company's stock worth $722,000 after buying an additional 10,490 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in The India Fund by 4.6% in the fourth quarter. Wells Fargo & Company MN now owns 145,892 shares of the investment management company's stock worth $2,161,000 after buying an additional 6,424 shares during the period. Finally, Lazard Asset Management LLC boosted its position in The India Fund by 0.3% during the 1st quarter. Lazard Asset Management LLC now owns 2,327,151 shares of the investment management company's stock valued at $44,937,000 after acquiring an additional 6,351 shares in the last quarter. Hedge funds and other institutional investors own 11.92% of the company's stock.About The India Fund
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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.
Further Reading
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