Brown Advisory Inc. Purchases New Position in India Fund, Inc. (NYSE:IFN)

Brown Advisory Inc. purchased a new stake in shares of India Fund, Inc. (NYSE:IFN) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 10,254 shares of the investment management company’s stock, valued at approximately $162,000.

Several other institutional investors also recently bought and sold shares of IFN. Penserra Capital Management LLC raised its position in India Fund by 260.0% during the first quarter. Penserra Capital Management LLC now owns 972,936 shares of the investment management company’s stock valued at $15,343,000 after acquiring an additional 702,686 shares in the last quarter. Raymond James Financial Inc. purchased a new position in India Fund during the fourth quarter valued at approximately $7,484,000. Almitas Capital LLC purchased a new position in India Fund during the fourth quarter valued at approximately $814,000. Jane Street Group LLC purchased a new position in India Fund during the fourth quarter valued at approximately $667,000. Finally, Quantedge Capital Pte Ltd purchased a new position in India Fund during the fourth quarter valued at approximately $443,000. 10.76% of the stock is currently owned by hedge funds and other institutional investors.

India Fund Stock Performance

India Fund stock opened at $16.17 on Thursday. India Fund, Inc. has a 12 month low of $13.76 and a 12 month high of $19.25. The business has a 50 day simple moving average of $16.29 and a 200-day simple moving average of $15.78.

India Fund Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Thursday, May 22nd were given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 10.15%. The ex-dividend date of this dividend was Thursday, May 22nd.

About 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.