GWN Securities Inc. Acquires Shares of 15,983 The India Fund, Inc. (NYSE:IFN)

GWN Securities Inc. acquired a new stake in The India Fund, Inc. (NYSE:IFN) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 15,983 shares of the investment management company’s stock, valued at approximately $253,000. GWN Securities Inc. owned approximately 0.05% of The India Fund at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Landscape Capital Management L.L.C. grew its holdings in The India Fund by 25.3% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 715,745 shares of the investment management company’s stock valued at $13,613,000 after buying an additional 144,609 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of The India Fund during the 4th quarter worth $7,484,000. Penserra Capital Management LLC acquired a new stake in shares of The India Fund during the 3rd quarter worth $4,794,000. Rivernorth Capital Management LLC acquired a new stake in shares of The India Fund during the 3rd quarter worth $3,540,000. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of The India Fund during the 4th quarter worth $2,722,000. 10.76% of the stock is owned by institutional investors and hedge funds.

The India Fund Price Performance

IFN opened at $15.13 on Tuesday. The India Fund, Inc. has a 52-week low of $14.17 and a 52-week high of $20.83. The business’s fifty day moving average is $15.55 and its 200-day moving average is $16.93.

The India Fund Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 21st will be issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 12.16%. The ex-dividend date of this dividend is Friday, February 21st.

The India Fund Company 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.