C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Invests $222,000 in India Fund, Inc. $IFN

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in shares of India Fund, Inc. (NYSE:IFN) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 13,431 shares of the investment management company’s stock, valued at approximately $222,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Aberdeen Group plc acquired a new position in shares of India Fund during the 1st quarter valued at about $161,000. Brown Advisory Inc. acquired a new position in shares of India Fund during the 1st quarter valued at about $162,000. Nwam LLC acquired a new position in shares of India Fund during the 1st quarter valued at about $188,000. Elequin Capital LP boosted its position in shares of India Fund by 44.4% during the 1st quarter. Elequin Capital LP now owns 13,145 shares of the investment management company’s stock valued at $207,000 after acquiring an additional 4,043 shares during the last quarter. Finally, Sigma Planning Corp acquired a new position in shares of India Fund during the 1st quarter valued at about $212,000. Institutional investors and hedge funds own 10.76% of the company’s stock.

India Fund Price Performance

Shares of IFN stock opened at $14.99 on Monday. The company’s 50-day moving average price is $14.99 and its 200-day moving average price is $15.66. India Fund, Inc. has a twelve month low of $13.76 and a twelve month high of $18.03.

India Fund Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Friday, August 22nd were given a $0.43 dividend. The ex-dividend date of this dividend was Friday, August 22nd. This is an increase from India Fund’s previous quarterly dividend of $0.41. This represents a $1.72 dividend on an annualized basis and a yield of 11.5%.

India Fund Company 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.