Farther Finance Advisors LLC Has $61,000 Holdings in The India Fund, Inc. (NYSE:IFN)

Farther Finance Advisors LLC raised its position in shares of The India Fund, Inc. (NYSE:IFN) by 21,522.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,892 shares of the investment management company’s stock after buying an additional 3,874 shares during the quarter. Farther Finance Advisors LLC’s holdings in The India Fund were worth $61,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wolverine Asset Management LLC boosted its position in The India Fund by 188.4% during the 4th quarter. Wolverine Asset Management LLC now owns 109,284 shares of the investment management company’s stock worth $1,721,000 after acquiring an additional 71,390 shares during the period. Janney Montgomery Scott LLC acquired a new stake in shares of The India Fund during the fourth quarter worth approximately $2,722,000. Transcend Capital Advisors LLC grew its position in The India Fund by 25.7% during the fourth quarter. Transcend Capital Advisors LLC now owns 146,764 shares of the investment management company’s stock valued at $2,312,000 after purchasing an additional 30,000 shares in the last quarter. Calamos Advisors LLC grew its position in The India Fund by 92.0% during the fourth quarter. Calamos Advisors LLC now owns 37,191 shares of the investment management company’s stock valued at $586,000 after purchasing an additional 17,816 shares in the last quarter. Finally, Absolute Investment Advisers LLC acquired a new position in The India Fund in the 4th quarter valued at approximately $770,000. 10.76% of the stock is currently owned by institutional investors and hedge funds.

The India Fund Stock Performance

The India Fund stock opened at $15.87 on Friday. The India Fund, Inc. has a 12 month low of $14.17 and a 12 month high of $20.83. The company’s fifty day simple moving average is $15.50 and its 200-day simple moving average is $16.86.

The India Fund Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 21st will be paid a $0.46 dividend. The ex-dividend date is Friday, February 21st. This represents a $1.84 annualized dividend and a dividend yield of 11.59%.

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.