Wolverine Asset Management LLC Has $721,000 Stock Holdings in The India Fund, Inc. (NYSE:IFN)

Wolverine Asset Management LLC reduced its stake in The India Fund, Inc. (NYSE:IFN) by 20.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 37,894 shares of the investment management company’s stock after selling 9,451 shares during the quarter. Wolverine Asset Management LLC owned about 0.12% of The India Fund worth $721,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Avantax Advisory Services Inc. lifted its position in shares of The India Fund by 67.3% in the 1st quarter. Avantax Advisory Services Inc. now owns 19,697 shares of the investment management company’s stock worth $403,000 after purchasing an additional 7,925 shares during the period. Nwam LLC bought a new stake in The India Fund during the first quarter valued at $259,000. Beck Capital Management LLC grew its holdings in The India Fund by 0.8% during the 1st quarter. Beck Capital Management LLC now owns 183,425 shares of the investment management company’s stock worth $3,755,000 after acquiring an additional 1,418 shares during the period. Cetera Advisors LLC bought a new position in shares of The India Fund in the 1st quarter worth about $261,000. Finally, Csenge Advisory Group acquired a new position in shares of The India Fund in the 2nd quarter valued at about $362,000. 10.76% of the stock is currently owned by institutional investors.

The India Fund Price Performance

Shares of IFN opened at $17.23 on Thursday. The India Fund, Inc. has a 52-week low of $16.62 and a 52-week high of $21.25. The business’s 50 day moving average price is $18.30 and its two-hundred day moving average price is $18.10.

The India Fund Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Thursday, November 21st will be given a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 21.59%. The ex-dividend date is Thursday, November 21st. This is an increase from The India Fund’s previous quarterly dividend of $0.49.

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.