Rahn K. Porter Purchases 1,000 Shares of The India Fund, Inc. (NYSE:IFN) Stock

The India Fund, Inc. (NYSE:IFN) Director Rahn K. Porter acquired 1,000 shares of The India Fund stock in a transaction dated Wednesday, July 10th. The stock was purchased at an average price of $17.97 per share, with a total value of $17,970.00. Following the completion of the purchase, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $17,970. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

The India Fund Stock Performance

Shares of NYSE:IFN traded up $0.03 on Friday, hitting $17.97. 161,796 shares of the company were exchanged, compared to its average volume of 200,075. The company’s 50 day moving average price is $17.78 and its two-hundred day moving average price is $18.84. The India Fund, Inc. has a one year low of $15.56 and a one year high of $21.25.

The India Fund Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 5th. Stockholders of record on Thursday, May 30th were issued a $0.45 dividend. This is a positive change from The India Fund’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $1.80 annualized dividend and a dividend yield of 10.02%.

Institutional Investors Weigh In On The India Fund

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. PFG Investments LLC acquired a new position in shares of The India Fund during the first quarter valued at $1,694,000. International Assets Investment Management LLC acquired a new position in shares of The India Fund in the 4th quarter valued at $669,000. Atria Wealth Solutions Inc. increased its holdings in shares of The India Fund by 16.6% in the fourth quarter. Atria Wealth Solutions Inc. now owns 251,216 shares of the investment management company’s stock worth $4,595,000 after acquiring an additional 35,836 shares in the last quarter. American Institute for Advanced Investment Management LLP raised its holdings in The India Fund by 212.4% during the 1st quarter. American Institute for Advanced Investment Management LLP now owns 41,821 shares of the investment management company’s stock worth $856,000 after buying an additional 28,434 shares during the period. Finally, Koshinski Asset Management Inc. raised its holdings in shares of The India Fund by 104.9% during the fourth quarter. Koshinski Asset Management Inc. now owns 44,315 shares of the investment management company’s stock worth $811,000 after acquiring an additional 22,687 shares during the period. 10.76% of the stock is owned by institutional investors and hedge funds.

About The 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.