Transcend Capital Advisors LLC Increases Stock Position in The India Fund, Inc. (NYSE:IFN)

Transcend Capital Advisors LLC grew its position in shares of The India Fund, Inc. (NYSE:IFN) by 25.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 146,764 shares of the investment management company’s stock after purchasing an additional 30,000 shares during the quarter. Transcend Capital Advisors LLC owned approximately 0.47% of The India Fund worth $2,312,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in IFN. Landscape Capital Management L.L.C. increased its holdings in shares of The India Fund by 25.3% in the 3rd 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 acquiring an additional 144,609 shares during the period. Raymond James & Associates increased its stake in The India Fund by 15.0% in the third quarter. Raymond James & Associates now owns 401,391 shares of the investment management company’s stock valued at $7,634,000 after purchasing an additional 52,291 shares during the period. Penserra Capital Management LLC purchased a new stake in shares of The India Fund in the third quarter valued at about $4,794,000. Rivernorth Capital Management LLC purchased a new stake in shares of The India Fund in the third quarter valued at about $3,540,000. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of The India Fund during the fourth quarter worth about $2,722,000. Institutional investors and hedge funds own 10.76% of the company’s stock.

The India Fund Price Performance

NYSE IFN opened at $15.28 on Friday. The business’s 50-day moving average price is $15.99 and its 200 day moving average price is $17.36. The India Fund, Inc. has a 52-week low of $15.25 and a 52-week high of $21.25.

The India Fund Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 21st will be paid a $0.46 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $1.84 annualized dividend and a dividend yield of 12.05%.

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.