1607 Capital Partners LLC Takes Position in The India Fund, Inc. (NYSE:IFN)

1607 Capital Partners LLC acquired a new position in The India Fund, Inc. (NYSE:IFN) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 20,000 shares of the investment management company’s stock, valued at approximately $315,000.

Other institutional investors also recently bought and sold shares of the company. Noble Wealth Management PBC purchased a new position in The India Fund in the 4th quarter worth approximately $49,000. Farther Finance Advisors LLC grew its holdings in shares of The India Fund by 21,522.2% in the fourth quarter. Farther Finance Advisors LLC now owns 3,892 shares of the investment management company’s stock worth $61,000 after purchasing an additional 3,874 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of The India Fund in the third quarter worth approximately $65,000. Proficio Capital Partners LLC purchased a new position in shares of The India Fund in the fourth quarter worth $198,000. Finally, Keystone Financial Group bought a new stake in The India Fund during the 4th quarter valued at $212,000. 10.76% of the stock is currently owned by hedge funds and other institutional investors.

The India Fund Price Performance

Shares of The India Fund stock opened at $15.04 on Thursday. The company’s fifty day simple moving average is $15.14 and its two-hundred day simple moving average is $16.41. The India Fund, Inc. has a 12-month low of $13.76 and a 12-month high of $19.25.

The India Fund Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, February 21st were issued a dividend of $0.46 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $1.84 dividend on an annualized basis and a yield of 12.23%.

About The India Fund

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.