Consolidated Portfolio Review Corp Boosts Holdings in India Fund, Inc. $IFN

Consolidated Portfolio Review Corp lifted its position in shares of India Fund, Inc. (NYSE:IFN) by 4.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 119,089 shares of the investment management company’s stock after buying an additional 4,794 shares during the period. Consolidated Portfolio Review Corp owned approximately 0.38% of India Fund worth $1,969,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in IFN. Farther Finance Advisors LLC grew its position in India Fund by 19.7% in the first quarter. Farther Finance Advisors LLC now owns 4,660 shares of the investment management company’s stock worth $73,000 after acquiring an additional 768 shares during the period. Aberdeen Group plc acquired a new position in shares of India Fund in the 1st quarter valued at $161,000. Brown Advisory Inc. acquired a new position in shares of India Fund in the 1st quarter valued at $162,000. Nwam LLC purchased a new position in shares of India Fund during the 1st quarter worth $188,000. Finally, Elequin Capital LP increased 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 worth $207,000 after purchasing an additional 4,043 shares during the last quarter. 10.76% of the stock is currently owned by institutional investors and hedge funds.

India Fund Stock Performance

Shares of IFN opened at $14.64 on Wednesday. The company’s 50-day moving average price is $15.26 and its 200 day moving average price is $15.67. India Fund, Inc. has a 12-month low of $13.76 and a 12-month high of $19.10.

India Fund Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Friday, August 22nd were issued a $0.43 dividend. The ex-dividend date was Friday, August 22nd. This represents a $1.72 annualized dividend and a dividend yield of 11.7%. This is an increase from India Fund’s previous quarterly dividend of $0.41.

About 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.