Planning Capital Management Corp Grows Holdings in The India Fund, Inc. (NYSE:IFN)

Planning Capital Management Corp lifted its stake in shares of The India Fund, Inc. (NYSE:IFN) by 21.3% in the third quarter, Holdings Channel reports. The firm owned 4,181 shares of the investment management company’s stock after buying an additional 733 shares during the period. Planning Capital Management Corp’s holdings in The India Fund were worth $80,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Avantax Advisory Services Inc. raised its holdings in The India Fund by 67.3% in the first quarter. Avantax Advisory Services Inc. now owns 19,697 shares of the investment management company’s stock valued at $403,000 after acquiring an additional 7,925 shares in the last quarter. Nwam LLC acquired a new position in shares of The India Fund during the 1st quarter worth $259,000. Beck Capital Management LLC raised its position in shares of The India Fund by 0.8% in the first quarter. Beck Capital Management LLC now owns 183,425 shares of the investment management company’s stock valued at $3,755,000 after buying an additional 1,418 shares during the last quarter. Cetera Advisors LLC purchased a new position in shares of The India Fund in the 1st quarter worth $261,000. Finally, Csenge Advisory Group purchased a new position in The India Fund in the 2nd quarter worth approximately $362,000. Institutional investors and hedge funds own 10.76% of the company’s stock.

The India Fund Stock Performance

The India Fund stock opened at $17.28 on Friday. The India Fund, Inc. has a one year low of $16.62 and a one year high of $21.25. The company has a 50-day simple moving average of $18.28 and a 200-day simple moving average of $18.10.

The India Fund Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Thursday, November 21st will be issued a $0.93 dividend. The ex-dividend date is Thursday, November 21st. This represents a $3.72 dividend on an annualized basis and a yield of 21.53%. This is a positive change from The India Fund’s previous quarterly dividend of $0.49.

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.