Pallas Capital Advisors LLC Acquires New Position in The India Fund, Inc. (NYSE:IFN)

Pallas Capital Advisors LLC bought a new position in The India Fund, Inc. (NYSE:IFN) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 17,000 shares of the investment management company’s stock, valued at approximately $268,000.

A number of other institutional investors have also modified their holdings of IFN. Rivernorth Capital Management LLC purchased a new stake in shares of The India Fund in the third quarter valued at approximately $3,540,000. Wilmington Savings Fund Society FSB bought a new stake in The India Fund during the 3rd quarter valued at $65,000. Public Employees Retirement System of Ohio bought a new stake in The India Fund during the 3rd quarter valued at $873,000. EP Wealth Advisors LLC bought a new stake in The India Fund during the 3rd quarter valued at $1,264,000. Finally, Stifel Financial Corp raised its position in The India Fund by 24.3% during the 3rd quarter. Stifel Financial Corp now owns 55,049 shares of the investment management company’s stock valued at $1,047,000 after purchasing an additional 10,764 shares in the last quarter. 10.76% of the stock is owned by hedge funds and other institutional investors.

The India Fund Stock Up 0.9 %

Shares of NYSE IFN opened at $16.19 on Thursday. The business has a fifty day simple moving average of $16.79 and a two-hundred day simple moving average of $17.76. The India Fund, Inc. has a twelve month low of $15.68 and a twelve month high of $21.25.

The India Fund Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Thursday, November 21st were given a dividend of $0.93 per share. The ex-dividend date was Thursday, November 21st. This is a positive change from The India Fund’s previous quarterly dividend of $0.49. This represents a $3.72 dividend on an annualized basis and a yield of 22.98%.

The 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.