EP Wealth Advisors LLC Makes New $1.26 Million Investment in The India Fund, Inc. (NYSE:IFN)

EP Wealth Advisors LLC acquired a new stake in The India Fund, Inc. (NYSE:IFN) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 66,451 shares of the investment management company’s stock, valued at approximately $1,264,000. EP Wealth Advisors LLC owned about 0.21% of The India Fund as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IFN. Cetera Advisors LLC bought a new position in The India Fund in the first quarter valued at $261,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in shares of The India Fund in the 2nd quarter valued at about $219,000. Miracle Mile Advisors LLC increased its position in shares of The India Fund by 26.2% in the second quarter. Miracle Mile Advisors LLC now owns 14,430 shares of the investment management company’s stock valued at $258,000 after acquiring an additional 3,000 shares during the last quarter. Raymond James & Associates raised its holdings in The India Fund by 168.3% during the second quarter. Raymond James & Associates now owns 349,100 shares of the investment management company’s stock worth $6,235,000 after acquiring an additional 218,980 shares in the last quarter. Finally, Atria Wealth Solutions Inc. boosted its position in The India Fund by 26.2% during the second quarter. Atria Wealth Solutions Inc. now owns 368,268 shares of the investment management company’s stock valued at $6,577,000 after purchasing an additional 76,436 shares during the last quarter. 10.76% of the stock is currently owned by institutional investors and hedge funds.

The India Fund Stock Performance

IFN stock opened at $17.36 on Tuesday. The India Fund, Inc. has a twelve month low of $16.62 and a twelve month high of $21.25. The business has a 50 day moving average price of $17.87 and a two-hundred day moving average price of $18.03.

The India Fund Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Thursday, November 21st will be paid a $0.93 dividend. The ex-dividend date is Thursday, November 21st. This is a boost from The India Fund’s previous quarterly dividend of $0.49. This represents a $3.72 annualized dividend and a dividend yield of 21.43%.

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.