Penserra Capital Management LLC Invests $4.79 Million in The India Fund, Inc. (NYSE:IFN)

Penserra Capital Management LLC acquired a new stake in The India Fund, Inc. (NYSE:IFN) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 252,059 shares of the investment management company’s stock, valued at approximately $4,794,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of IFN. International Assets Investment Management LLC acquired a new stake in shares of The India Fund in the 2nd quarter valued at approximately $37,000. Planning Capital Management Corp lifted its stake in The India Fund by 21.3% in the 3rd quarter. Planning Capital Management Corp now owns 4,181 shares of the investment management company’s stock valued at $80,000 after purchasing an additional 733 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in The India Fund in the second quarter valued at approximately $219,000. Rathbones Group PLC grew its stake in shares of The India Fund by 22.6% during the second quarter. Rathbones Group PLC now owns 12,205 shares of the investment management company’s stock worth $218,000 after buying an additional 2,246 shares during the last quarter. Finally, Cetera Advisors LLC bought a new stake in shares of The India Fund during the first quarter worth $261,000. Institutional investors own 10.76% of the company’s stock.

The India Fund Trading Up 2.0 %

Shares of IFN opened at $17.10 on Monday. The India Fund, Inc. has a 52 week low of $16.62 and a 52 week high of $21.25. The stock has a fifty day moving average of $18.20 and a 200-day moving average of $18.07.

The India Fund Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Thursday, November 21st will be issued a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 21.75%. The ex-dividend date is Thursday, November 21st. This is a boost from The India Fund’s previous quarterly dividend of $0.49.

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.