Wolverine Asset Management LLC Acquires 71,390 Shares of The India Fund, Inc. (NYSE:IFN)

Wolverine Asset Management LLC lifted its holdings in The India Fund, Inc. (NYSE:IFN) by 188.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 109,284 shares of the investment management company’s stock after purchasing an additional 71,390 shares during the quarter. Wolverine Asset Management LLC owned 0.35% of The India Fund worth $1,721,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Planning Capital Management Corp lifted its position in The India Fund by 21.3% during the 3rd quarter. Planning Capital Management Corp now owns 4,181 shares of the investment management company’s stock worth $80,000 after buying an additional 733 shares in the last quarter. Cassaday & Co Wealth Management LLC increased its position in shares of The India Fund by 5.3% in the third quarter. Cassaday & Co Wealth Management LLC now owns 15,409 shares of the investment management company’s stock valued at $293,000 after acquiring an additional 774 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in The India Fund during the third quarter worth about $65,000. IHT Wealth Management LLC bought a new stake in The India Fund during the third quarter worth about $191,000. Finally, Consolidated Portfolio Review Corp boosted its position in The India Fund by 10.6% during the third quarter. Consolidated Portfolio Review Corp now owns 105,362 shares of the investment management company’s stock valued at $2,004,000 after purchasing an additional 10,121 shares during the last quarter. Institutional investors and hedge funds own 10.76% of the company’s stock.

The India Fund Stock Down 3.6 %

NYSE:IFN opened at $15.28 on Friday. The India Fund, Inc. has a twelve month low of $15.25 and a twelve month high of $21.25. The stock’s 50 day moving average price is $15.99 and its two-hundred day moving average price is $17.36.

The India Fund Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 21st will be issued a dividend of $0.46 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $1.84 dividend on an annualized basis and a yield of 12.05%.

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.