Concurrent Investment Advisors LLC Decreases Stake in India Fund, Inc. $IFN

Concurrent Investment Advisors LLC cut its stake in shares of India Fund, Inc. (NYSE:IFN) by 27.8% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 28,067 shares of the investment management company’s stock after selling 10,790 shares during the period. Concurrent Investment Advisors LLC’s holdings in India Fund were worth $464,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its stake 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 last quarter. Aberdeen Group plc acquired a new stake in shares of India Fund in the 1st quarter valued at $161,000. Brown Advisory Inc. purchased a new stake in shares of India Fund during the 1st quarter worth $162,000. Nwam LLC acquired a new position in shares of India Fund during the first quarter worth $188,000. Finally, Elequin Capital LP grew its stake in shares of India Fund by 44.4% during the first 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 in the last quarter. Institutional investors and hedge funds own 10.76% of the company’s stock.

India Fund Stock Performance

India Fund stock opened at $15.22 on Friday. India Fund, Inc. has a 1-year low of $13.76 and a 1-year high of $18.81. The stock’s fifty day moving average is $15.08 and its two-hundred day moving average is $15.60.

India Fund Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Friday, August 22nd were given a dividend of $0.43 per share. This is a boost from India Fund’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $1.72 annualized dividend and a dividend yield of 11.3%.

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.