EP Wealth Advisors LLC Makes New Investment in The India Fund, Inc. (NYSE:IFN)

EP Wealth Advisors LLC acquired a new stake in The India Fund, Inc. (NYSE:IFN) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 66,451 shares of the investment management company’s stock, valued at approximately $1,264,000.

Other hedge funds also recently modified their holdings of the company. Penserra Capital Management LLC acquired a new position in The India Fund in the 3rd quarter valued at about $4,794,000. Raymond James & Associates boosted its holdings in shares of The India Fund by 168.3% during the second quarter. Raymond James & Associates now owns 349,100 shares of the investment management company’s stock worth $6,235,000 after acquiring an additional 218,980 shares during the period. Landscape Capital Management L.L.C. grew its position in shares of The India Fund by 25.3% in the third quarter. Landscape Capital Management L.L.C. now owns 715,745 shares of the investment management company’s stock valued at $13,613,000 after purchasing an additional 144,609 shares during the last quarter. Atria Wealth Solutions Inc. increased its stake in shares of The India Fund by 26.2% during the second quarter. Atria Wealth Solutions Inc. now owns 368,268 shares of the investment management company’s stock worth $6,577,000 after purchasing an additional 76,436 shares during the period. Finally, Sea Otter Advisors LLC acquired a new stake in The India Fund during the 2nd quarter worth approximately $1,179,000. Institutional investors and hedge funds own 10.76% of the company’s stock.

The India Fund Stock Performance

IFN opened at $17.36 on Tuesday. The business has a fifty day simple moving average of $17.87 and a 200 day simple moving average of $18.03. The India Fund, Inc. has a 1 year low of $16.62 and a 1 year high of $21.25.

The India Fund Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Thursday, November 21st will be given a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 21.43%. 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 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.