Wolverine Asset Management LLC Has $721,000 Stock Holdings in The India Fund, Inc. (NYSE:IFN)

Wolverine Asset Management LLC reduced its holdings in shares of The India Fund, Inc. (NYSE:IFN) by 20.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,894 shares of the investment management company’s stock after selling 9,451 shares during the quarter. Wolverine Asset Management LLC’s holdings in The India Fund were worth $721,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in IFN. International Assets Investment Management LLC bought a new stake in The India Fund during the second quarter worth $37,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in The India Fund during the 2nd quarter worth $219,000. Rathbones Group PLC grew its stake in shares of The India Fund by 22.6% in the 2nd quarter. Rathbones Group PLC now owns 12,205 shares of the investment management company’s stock worth $218,000 after acquiring an additional 2,246 shares in the last quarter. Nwam LLC purchased a new stake in shares of The India Fund in the first quarter valued at about $259,000. Finally, Cetera Advisors LLC bought a new position in shares of The India Fund during the first quarter valued at about $261,000. 10.76% of the stock is owned by institutional investors.

The India Fund Stock Performance

Shares of NYSE IFN opened at $17.23 on Thursday. The stock’s 50 day moving average price is $18.30 and its 200-day moving average price is $18.10. The India Fund, Inc. has a twelve month low of $16.62 and a twelve month high of $21.25.

The India Fund Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Thursday, November 21st will be paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 21.59%. The ex-dividend date of this dividend is Thursday, November 21st. This is an increase from The India Fund’s previous quarterly dividend of $0.49.

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.