Raymond James Financial Inc. Acquires Shares of 475,162 The India Fund, Inc. (NYSE:IFN)

Raymond James Financial Inc. acquired a new stake in The India Fund, Inc. (NYSE:IFN) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 475,162 shares of the investment management company’s stock, valued at approximately $7,484,000. Raymond James Financial Inc. owned about 1.53% of The India Fund as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Noble Wealth Management PBC bought a new stake in The India Fund in the fourth quarter valued at approximately $49,000. Wilmington Savings Fund Society FSB bought a new position in shares of The India Fund during the third quarter valued at approximately $65,000. IHT Wealth Management LLC bought a new position in shares of The India Fund during the third quarter valued at approximately $191,000. Proficio Capital Partners LLC bought a new position in shares of The India Fund during the fourth quarter valued at approximately $198,000. Finally, Matisse Capital bought a new position in shares of The India Fund during the fourth quarter valued at approximately $238,000. Institutional investors own 10.76% of the company’s stock.

The India Fund Stock Up 0.6 %

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

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 of this dividend is Friday, February 21st. This represents a $1.84 annualized dividend and a 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.