Transcend Capital Advisors LLC Raises Position in The India Fund, Inc. (NYSE:IFN)

Transcend Capital Advisors LLC lifted its position in shares of The India Fund, Inc. (NYSE:IFN) by 25.7% during the fourth quarter, HoldingsChannel reports. The fund owned 146,764 shares of the investment management company’s stock after acquiring an additional 30,000 shares during the quarter. Transcend Capital Advisors LLC’s holdings in The India Fund were worth $2,312,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in IFN. Raymond James & Associates increased its position in The India Fund by 15.0% during the 3rd quarter. Raymond James & Associates now owns 401,391 shares of the investment management company’s stock worth $7,634,000 after purchasing an additional 52,291 shares during the period. International Assets Investment Management LLC boosted its stake in shares of The India Fund by 1,850.8% in the third quarter. International Assets Investment Management LLC now owns 40,811 shares of the investment management company’s stock valued at $7,760,000 after buying an additional 38,719 shares in the last quarter. Consolidated Portfolio Review Corp grew its holdings in The India Fund by 10.6% during the third quarter. Consolidated Portfolio Review Corp now owns 105,362 shares of the investment management company’s stock worth $2,004,000 after acquiring an additional 10,121 shares during the period. Concurrent Investment Advisors LLC acquired a new position in The India Fund during the third quarter worth $881,000. Finally, Planning Capital Management Corp raised its position in The India Fund by 21.3% in the third quarter. Planning Capital Management Corp now owns 4,181 shares of the investment management company’s stock worth $80,000 after acquiring an additional 733 shares in the last quarter. 10.76% of the stock is owned by hedge funds and other institutional investors.

The India Fund Stock Performance

Shares of NYSE IFN opened at $15.28 on Friday. The India Fund, Inc. has a one year low of $15.25 and a one year high of $21.25. The company’s fifty day moving average is $15.99 and its two-hundred day moving average is $17.36.

The India Fund Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 21st will be issued a dividend of $0.46 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $1.84 annualized dividend and a yield of 12.05%.

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.