The India Fund, Inc. (NYSE:IFN) announced a quarterly dividend on Tuesday, September 14th, Wall Street Journal reports. Stockholders of record on Monday, September 20th will be paid a dividend of 0.61 per share by the investment management company on Thursday, September 30th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 10.34%. The ex-dividend date is Friday, September 17th. This is a positive change from The India Fund’s previous quarterly dividend of $0.58.
Shares of IFN stock opened at $23.60 on Wednesday. The firm’s 50-day moving average is $22.46 and its 200-day moving average is $21.77. The India Fund has a 52-week low of $15.71 and a 52-week high of $23.64.
A hedge fund recently raised its stake in The India Fund stock. Morgan Stanley raised its stake in The India Fund, Inc. (NYSE:IFN) by 25.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,173,368 shares of the investment management company’s stock after acquiring an additional 241,493 shares during the quarter. Morgan Stanley owned about 4.36% of The India Fund worth $25,767,000 at the end of the most recent reporting period. Institutional investors own 22.85% of the company’s stock.
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.
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