Penserra Capital Management LLC Cuts Stock Position in India Fund, Inc. $IFN

Penserra Capital Management LLC trimmed its holdings in India Fund, Inc. (NYSE:IFN) by 60.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 393,673 shares of the investment management company’s stock after selling 608,872 shares during the period. Penserra Capital Management LLC owned about 1.27% of India Fund worth $5,767,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Colonial Trust Advisors bought a new stake in India Fund during the 2nd quarter valued at approximately $31,000. Wolverine Asset Management LLC bought a new stake in shares of India Fund during the third quarter valued at approximately $49,000. Allworth Financial LP purchased a new position in shares of India Fund in the second quarter worth $65,000. Alteri Wealth LLC bought a new position in shares of India Fund during the second quarter worth $168,000. Finally, one8zero8 LLC boosted its position in shares of India Fund by 5.4% during the third quarter. one8zero8 LLC now owns 13,111 shares of the investment management company’s stock worth $192,000 after acquiring an additional 676 shares during the last quarter. Institutional investors own 10.76% of the company’s stock.

India Fund Trading Down 1.2%

Shares of NYSE IFN opened at $13.98 on Friday. India Fund, Inc. has a 52-week low of $13.46 and a 52-week high of $16.95. The firm’s fifty day moving average is $13.86 and its two-hundred day moving average is $14.69.

India Fund Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, February 20th will be paid a dividend of $0.906 per share. The ex-dividend date of this dividend is Friday, February 20th. This represents a $3.62 dividend on an annualized basis and a yield of 25.9%.

About India Fund

The India Fund, Inc (NYSE: IFN) is a closed-end management investment company incorporated in Maryland. It seeks to provide shareholders with long-term growth of capital, as well as current income. The fund trades on the New York Stock Exchange and offers investors access to equity markets in India through a diversified portfolio of Indian companies.

IFN invests primarily in equity securities of companies organized or domiciled in India, including common stocks, depositary receipts and other equity-related instruments.