City of London Investment Management Co. Ltd. Takes $12.17 Million Position in India Fund, Inc. $IFN

City of London Investment Management Co. Ltd. purchased a new position in shares of India Fund, Inc. (NYSE:IFN) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 830,504 shares of the investment management company’s stock, valued at approximately $12,167,000. India Fund makes up about 0.9% of City of London Investment Management Co. Ltd.’s investment portfolio, making the stock its 26th largest holding.

Other hedge funds and other institutional investors have also modified their holdings of the company. Colonial Trust Advisors acquired a new position in India Fund during the 2nd quarter worth about $31,000. Wolverine Asset Management LLC acquired a new position in India Fund in the 3rd quarter valued at about $49,000. Allworth Financial LP acquired a new position in India Fund in the 2nd quarter valued at about $65,000. Alteri Wealth LLC purchased a new stake in India Fund during the second quarter worth about $168,000. Finally, one8zero8 LLC increased its stake in India Fund by 5.4% during the third quarter. one8zero8 LLC now owns 13,111 shares of the investment management company’s stock worth $192,000 after purchasing an additional 676 shares during the period. 10.76% of the stock is currently owned by hedge funds and other institutional investors.

India Fund Price Performance

Shares of IFN opened at $11.86 on Friday. The company’s 50-day simple moving average is $13.58 and its 200-day simple moving average is $14.27. India Fund, Inc. has a 1 year low of $11.84 and a 1 year high of $16.95.

India Fund Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, February 20th will be issued a dividend of $0.906 per share. The ex-dividend date is Friday, February 20th. This represents a $3.62 dividend on an annualized basis and a yield of 30.6%.

About India Fund

The India Fund, Inc (NYSE: IFN) is a closed-end management investment company incorporated in Maryland. It seeks to provide shareholders with long-term growth of capital, as well as current income. The fund trades on the New York Stock Exchange and offers investors access to equity markets in India through a diversified portfolio of Indian companies.

IFN invests primarily in equity securities of companies organized or domiciled in India, including common stocks, depositary receipts and other equity-related instruments.