Stifel Financial Corp Grows Stake in The India Fund, Inc. (NYSE:IFN)

Stifel Financial Corp boosted its position in shares of The India Fund, Inc. (NYSE:IFN) by 24.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 55,049 shares of the investment management company’s stock after purchasing an additional 10,764 shares during the quarter. Stifel Financial Corp owned approximately 0.18% of The India Fund worth $1,047,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of IFN. Penserra Capital Management LLC acquired a new position in shares of The India Fund during the 3rd quarter worth $4,794,000. Raymond James & Associates lifted its holdings in shares of The India Fund by 168.3% in the second quarter. Raymond James & Associates now owns 349,100 shares of the investment management company’s stock valued at $6,235,000 after purchasing an additional 218,980 shares in the last quarter. Landscape Capital Management L.L.C. grew its position in shares of The India Fund by 25.3% in the third 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 purchasing an additional 144,609 shares during the last quarter. Sea Otter Advisors LLC purchased a new position in shares of The India Fund during the 2nd quarter worth approximately $1,179,000. Finally, Wolverine Asset Management LLC acquired a new position in shares of The India Fund during the 2nd quarter worth approximately $846,000. Institutional investors and hedge funds own 10.76% of the company’s stock.

The India Fund Stock Down 0.5 %

IFN stock opened at $16.11 on Tuesday. The stock’s 50 day moving average price is $17.48 and its 200 day moving average price is $17.97. The India Fund, Inc. has a 1 year low of $16.02 and a 1 year high of $21.25.

The India Fund Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Thursday, November 21st will be paid a dividend of $0.93 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $3.72 dividend on an annualized basis and a dividend yield of 23.09%. This is a positive change from The India Fund’s previous quarterly dividend of $0.49.

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.