LPL Financial LLC Acquires 16,877 Shares of India Fund, Inc. $IFN

LPL Financial LLC boosted its holdings in India Fund, Inc. (NYSE:IFN) by 13.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 141,802 shares of the investment management company’s stock after purchasing an additional 16,877 shares during the quarter. LPL Financial LLC owned about 0.46% of India Fund worth $2,236,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Farther Finance Advisors LLC raised its holdings in shares of India Fund by 19.7% during the first quarter. Farther Finance Advisors LLC now owns 4,660 shares of the investment management company’s stock valued at $73,000 after purchasing an additional 768 shares during the period. Elequin Capital LP acquired a new position in shares of India Fund during the fourth quarter valued at about $143,000. Brown Advisory Inc. acquired a new position in shares of India Fund during the first quarter valued at about $162,000. Waverly Advisors LLC acquired a new position in shares of India Fund during the fourth quarter valued at about $185,000. Finally, Nwam LLC acquired a new position in shares of India Fund during the first quarter valued at about $188,000. Institutional investors and hedge funds own 10.76% of the company’s stock.

India Fund Trading Up 0.5%

Shares of NYSE IFN opened at $15.7750 on Wednesday. The firm’s 50-day moving average price is $15.94 and its 200-day moving average price is $15.72. India Fund, Inc. has a 1-year low of $13.76 and a 1-year high of $19.25.

India Fund Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, August 22nd will be issued a $0.43 dividend. The ex-dividend date is Friday, August 22nd. This represents a $1.72 dividend on an annualized basis and a dividend yield of 10.9%. This is a boost from India Fund’s previous quarterly dividend of $0.41.

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.