Rivernorth Capital Management LLC Makes New $986,000 Investment in India Fund, Inc. $IFN

Rivernorth Capital Management LLC bought a new stake in shares of India Fund, Inc. (NYSE:IFN) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 83,942 shares of the investment management company’s stock, valued at approximately $986,000.

Several other institutional investors and hedge funds have also bought and sold shares of IFN. Advocate Investing Services LLC purchased a new stake in shares of India Fund during the 4th quarter valued at $1,001,000. Lazard Asset Management LLC raised its stake in India Fund by 64.9% in the second quarter. Lazard Asset Management LLC now owns 176,157 shares of the investment management company’s stock valued at $2,911,000 after buying an additional 69,338 shares during the last quarter. EP Wealth Advisors LLC acquired a new stake in India Fund in the fourth quarter worth about $809,000. Wolverine Asset Management LLC grew its stake in shares of India Fund by 1,663.0% during the fourth quarter. Wolverine Asset Management LLC now owns 58,830 shares of the investment management company’s stock worth $807,000 after acquiring an additional 55,493 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of India Fund during the fourth quarter valued at about $666,000. 10.76% of the stock is owned by hedge funds and other institutional investors.

India Fund Trading Down 0.1%

IFN stock opened at $11.46 on Monday. India Fund, Inc. has a 52 week low of $10.72 and a 52 week high of $15.47. The firm has a 50 day moving average of $11.64 and a 200 day moving average of $11.85.

India Fund Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Monday, August 24th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 12.9%. The ex-dividend date is Monday, August 24th.

India Fund Company Profile

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.