The India Fund, Inc. (NYSE:IFN) Shares Sold by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. lessened its position in shares of The India Fund, Inc. (NYSE:IFN) by 5.6% in the 4th quarter, HoldingsChannel reports. The fund owned 11,125 shares of the investment management company’s stock after selling 662 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in The India Fund were worth $203,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Raymond James & Associates grew its holdings in The India Fund by 25.0% during the 4th quarter. Raymond James & Associates now owns 25,641 shares of the investment management company’s stock worth $469,000 after acquiring an additional 5,129 shares in the last quarter. Atria Wealth Solutions Inc. boosted its holdings in shares of The India Fund by 33.4% in the 3rd quarter. Atria Wealth Solutions Inc. now owns 215,380 shares of the investment management company’s stock valued at $3,752,000 after buying an additional 53,907 shares in the last quarter. Schnieders Capital Management LLC boosted its holdings in shares of The India Fund by 27.7% in the 3rd quarter. Schnieders Capital Management LLC now owns 24,059 shares of the investment management company’s stock valued at $419,000 after buying an additional 5,220 shares in the last quarter. Avantax Advisory Services Inc. acquired a new stake in The India Fund during the 3rd quarter worth $212,000. Finally, Oppenheimer & Co. Inc. boosted its stake in The India Fund by 65.3% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 28,636 shares of the investment management company’s stock worth $499,000 after purchasing an additional 11,311 shares during the period. Institutional investors and hedge funds own 10.76% of the company’s stock.

The India Fund Stock Performance

Shares of NYSE:IFN opened at $18.28 on Thursday. The firm has a fifty day moving average price of $19.94 and a 200 day moving average price of $18.58. The India Fund, Inc. has a 1-year low of $15.12 and a 1-year high of $21.25.

The India Fund Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, February 22nd were given a dividend of $0.43 per share. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $1.72 dividend on an annualized basis and a yield of 9.41%. This is an increase from The India Fund’s previous quarterly dividend of $0.41.

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.