Consolidated Portfolio Review Corp Boosts Holdings in The India Fund, Inc. (NYSE:IFN)

Consolidated Portfolio Review Corp increased its holdings in shares of The India Fund, Inc. (NYSE:IFN) by 10.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 105,362 shares of the investment management company’s stock after buying an additional 10,121 shares during the period. Consolidated Portfolio Review Corp owned about 0.34% of The India Fund worth $2,004,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new position in The India Fund in the second quarter worth approximately $37,000. Rathbones Group PLC lifted its position in shares of The India Fund by 22.6% during the 2nd quarter. Rathbones Group PLC now owns 12,205 shares of the investment management company’s stock worth $218,000 after purchasing an additional 2,246 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in shares of The India Fund during the second quarter worth $219,000. Miracle Mile Advisors LLC increased its holdings in The India Fund by 26.2% in the second quarter. Miracle Mile Advisors LLC now owns 14,430 shares of the investment management company’s stock valued at $258,000 after buying an additional 3,000 shares during the last quarter. Finally, Nwam LLC acquired a new stake in The India Fund in the first quarter valued at $259,000. 10.76% of the stock is currently owned by institutional investors and hedge funds.

The India Fund Price Performance

IFN stock traded down $0.39 during trading on Friday, hitting $17.65. 249,310 shares of the company’s stock were exchanged, compared to its average volume of 91,099. The business has a 50-day moving average price of $18.52 and a two-hundred day moving average price of $18.18. The India Fund, Inc. has a 52-week low of $15.56 and a 52-week high of $21.25.

The India Fund Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, August 23rd were given a dividend of $0.49 per share. This is a positive change from The India Fund’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $1.96 annualized dividend and a yield of 11.10%.

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.