Noble Wealth Management PBC Takes $49,000 Position in The India Fund, Inc. (NYSE:IFN)

Noble Wealth Management PBC acquired a new stake in The India Fund, Inc. (NYSE:IFN) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,100 shares of the investment management company’s stock, valued at approximately $49,000.

Other hedge funds have also made changes to their positions in the company. Wilmington Savings Fund Society FSB purchased a new position in shares of The India Fund in the 3rd quarter valued at about $65,000. Planning Capital Management Corp increased its holdings in shares of The India Fund by 21.3% in the 3rd quarter. Planning Capital Management Corp now owns 4,181 shares of the investment management company’s stock valued at $80,000 after acquiring an additional 733 shares during the last quarter. IHT Wealth Management LLC purchased a new position in shares of The India Fund in the 3rd quarter valued at about $191,000. Proficio Capital Partners LLC purchased a new position in shares of The India Fund in the 4th quarter valued at about $198,000. Finally, Nwam LLC purchased a new position in shares of The India Fund in the 3rd quarter valued at about $280,000. Hedge funds and other institutional investors own 10.76% of the company’s stock.

The India Fund Trading Down 2.4 %

IFN opened at $14.46 on Friday. The India Fund, Inc. has a one year low of $14.40 and a one year high of $21.25. The business’s 50-day simple moving average is $15.82 and its 200-day simple moving average is $17.24.

The India Fund Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 21st will be paid 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 12.72%.

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.