City of London Investment Management Co. Ltd. Purchases New Position in India Fund, Inc. $IFN

City of London Investment Management Co. Ltd. acquired a new stake in India Fund, Inc. (NYSE:IFN) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 830,504 shares of the investment management company’s stock, valued at approximately $12,167,000. India Fund makes up 0.9% of City of London Investment Management Co. Ltd.’s holdings, making the stock its 26th biggest holding. City of London Investment Management Co. Ltd. owned 2.67% of India Fund as of its most recent SEC filing.

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

India Fund Stock Down 1.9%

Shares of IFN opened at $11.86 on Friday. India Fund, Inc. has a 52-week low of $11.84 and a 52-week high of $16.95. The firm’s fifty day moving average is $13.58 and its two-hundred day moving average is $14.27.

India Fund Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, February 20th will be given a dividend of $0.906 per share. This represents a $3.62 annualized dividend and a yield of 30.6%. The ex-dividend date is Friday, February 20th.

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.