Concurrent Investment Advisors LLC Cuts Position in India Fund, Inc. $IFN

Concurrent Investment Advisors LLC reduced its position in shares of India Fund, Inc. (NYSE:IFN) by 27.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,067 shares of the investment management company’s stock after selling 10,790 shares during the period. Concurrent Investment Advisors LLC owned about 0.09% of India Fund worth $464,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Cambridge Investment Research Advisors Inc. lifted its stake in India Fund by 10.1% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 20,670 shares of the investment management company’s stock worth $326,000 after acquiring an additional 1,898 shares in the last quarter. Raymond James Financial Inc. increased its stake in India Fund by 11.1% during the first quarter. Raymond James Financial Inc. now owns 527,682 shares of the investment management company’s stock worth $8,322,000 after purchasing an additional 52,520 shares during the period. Cetera Investment Advisers lifted its position in shares of India Fund by 9.4% during the first quarter. Cetera Investment Advisers now owns 475,056 shares of the investment management company’s stock worth $7,492,000 after purchasing an additional 40,798 shares in the last quarter. Cassaday & Co Wealth Management LLC purchased a new position in shares of India Fund in the first quarter valued at approximately $257,000. Finally, LPL Financial LLC grew its holdings in shares of India Fund by 13.5% in the first quarter. LPL Financial LLC now owns 141,802 shares of the investment management company’s stock valued at $2,236,000 after purchasing an additional 16,877 shares in the last quarter. 10.76% of the stock is owned by institutional investors and hedge funds.

India Fund Stock Up 0.7%

Shares of IFN opened at $15.22 on Friday. India Fund, Inc. has a fifty-two week low of $13.76 and a fifty-two week high of $18.81. The firm’s 50 day moving average price is $15.08 and its 200 day moving average price is $15.60.

India Fund Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Friday, August 22nd were given a dividend of $0.43 per share. This is an increase from India Fund’s previous quarterly dividend of $0.41. This represents a $1.72 dividend on an annualized basis and a dividend yield of 11.3%. The ex-dividend date of this dividend was Friday, August 22nd.

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.