Essex Savings Bank Acquires Shares of 1,739 The India Fund, Inc. (IFN)

Essex Savings Bank acquired a new stake in The India Fund, Inc. (NYSE:IFN) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,739 shares of the investment management company’s stock, valued at approximately $35,000.

Several other hedge funds have also recently added to or reduced their stakes in the stock. D.A. Davidson & CO. raised its holdings in shares of The India Fund by 31.6% in the third quarter. D.A. Davidson & CO. now owns 13,170 shares of the investment management company’s stock valued at $291,000 after acquiring an additional 3,162 shares in the last quarter. Tower Research Capital LLC TRC bought a new stake in shares of The India Fund in the third quarter valued at about $145,000. James Investment Research Inc. raised its holdings in shares of The India Fund by 46.6% in the third quarter. James Investment Research Inc. now owns 24,054 shares of the investment management company’s stock valued at $532,000 after acquiring an additional 7,650 shares in the last quarter. Advisory Alpha LLC raised its holdings in shares of The India Fund by 63.3% in the third quarter. Advisory Alpha LLC now owns 21,035 shares of the investment management company’s stock valued at $423,000 after acquiring an additional 8,155 shares in the last quarter. Finally, CIBC World Markets Inc. raised its holdings in shares of The India Fund by 88.5% in the third quarter. CIBC World Markets Inc. now owns 20,660 shares of the investment management company’s stock valued at $457,000 after acquiring an additional 9,700 shares in the last quarter. Hedge funds and other institutional investors own 22.53% of the company’s stock.

IFN stock opened at $20.96 on Friday. The India Fund, Inc. has a 1-year low of $19.66 and a 1-year high of $26.31.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 10th. Investors of record on Monday, December 31st were issued a $0.62 dividend. The ex-dividend date of this dividend was Friday, December 28th. This represents a $2.48 annualized dividend and a dividend yield of 11.83%.

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The India Fund Company Profile

The India Fund, Inc is a close ended equity mutual fund launched and managed by Aberdeen Asset Management 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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Institutional Ownership by Quarter for The India Fund (NYSE:IFN)

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