Janney Montgomery Scott LLC Invests $2.72 Million in The India Fund, Inc. (NYSE:IFN)

Janney Montgomery Scott LLC purchased a new position in The India Fund, Inc. (NYSE:IFN) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 172,855 shares of the investment management company’s stock, valued at approximately $2,722,000. Janney Montgomery Scott LLC owned about 0.56% of The India Fund at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Pallas Capital Advisors LLC acquired a new position in shares of The India Fund in the 4th quarter valued at about $268,000. Rivernorth Capital Management LLC acquired a new position in shares of The India Fund in the 3rd quarter worth approximately $3,540,000. Wilmington Savings Fund Society FSB bought a new position in shares of The India Fund in the 3rd quarter worth about $65,000. Public Employees Retirement System of Ohio bought a new position in shares of The India Fund during the third quarter valued at approximately $873,000. Finally, EP Wealth Advisors LLC acquired a new stake in The India Fund in the third quarter worth $1,264,000. 10.76% of the stock is currently owned by hedge funds and other institutional investors.

The India Fund Price Performance

The India Fund stock opened at $16.09 on Friday. The India Fund, Inc. has a 52-week low of $15.60 and a 52-week high of $21.25. The firm has a 50-day moving average price of $16.41 and a two-hundred day moving average price of $17.59.

The India Fund Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Thursday, November 21st were issued a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 23.12%. This is a positive change from The India Fund’s previous quarterly dividend of $0.49. The ex-dividend date was Thursday, November 21st.

The India Fund 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.