GWN Securities Inc. Acquires New Shares in The India Fund, Inc. (NYSE:IFN)

GWN Securities Inc. acquired a new stake in The India Fund, Inc. (NYSE:IFN) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 15,983 shares of the investment management company’s stock, valued at approximately $253,000.

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

The India Fund Trading Up 1.7 %

The India Fund stock opened at $15.13 on Tuesday. The India Fund, Inc. has a 12 month low of $14.17 and a 12 month high of $20.83. The stock has a 50-day moving average price of $15.55 and a two-hundred day moving average price of $16.93.

The India Fund Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 21st will be given a $0.46 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $1.84 annualized dividend and a yield of 12.16%.

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.