Waverly Advisors LLC Buys New Shares in The India Fund, Inc. (NYSE:IFN)

Waverly Advisors LLC bought a new stake in The India Fund, Inc. (NYSE:IFN) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 11,753 shares of the investment management company’s stock, valued at approximately $185,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wolverine Asset Management LLC lifted its holdings in The India Fund by 188.4% during the 4th quarter. Wolverine Asset Management LLC now owns 109,284 shares of the investment management company’s stock worth $1,721,000 after buying an additional 71,390 shares during the last quarter. Janney Montgomery Scott LLC purchased a new stake in The India Fund during the 4th quarter worth about $2,722,000. Transcend Capital Advisors LLC lifted its holdings in The India Fund by 25.7% during the 4th quarter. Transcend Capital Advisors LLC now owns 146,764 shares of the investment management company’s stock worth $2,312,000 after buying an additional 30,000 shares during the last quarter. Calamos Advisors LLC lifted its holdings in The India Fund by 92.0% during the 4th quarter. Calamos Advisors LLC now owns 37,191 shares of the investment management company’s stock worth $586,000 after buying an additional 17,816 shares during the last quarter. Finally, Absolute Investment Advisers LLC purchased a new stake in The India Fund during the 4th quarter worth about $770,000. 10.76% of the stock is currently owned by hedge funds and other institutional investors.

The India Fund Trading Up 1.1%

IFN opened at $16.40 on Tuesday. The business’s 50-day simple moving average is $15.65 and its 200-day simple moving average is $15.96. The India Fund, Inc. has a one year low of $13.76 and a one year high of $19.25.

The India Fund Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Thursday, May 22nd will be given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 10.00%. The ex-dividend date of this dividend is Thursday, May 22nd.

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.