Wolverine Asset Management LLC Has $1.72 Million Holdings in The India Fund, Inc. (NYSE:IFN)

Wolverine Asset Management LLC raised its holdings in The India Fund, Inc. (NYSE:IFN) by 188.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 109,284 shares of the investment management company’s stock after purchasing an additional 71,390 shares during the quarter. Wolverine Asset Management LLC’s holdings in The India Fund were worth $1,721,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in IFN. Wilmington Savings Fund Society FSB acquired a new position in shares of The India Fund during the 3rd quarter worth approximately $65,000. Planning Capital Management Corp boosted its position in The India Fund by 21.3% during the third quarter. Planning Capital Management Corp now owns 4,181 shares of the investment management company’s stock worth $80,000 after purchasing an additional 733 shares during the period. IHT Wealth Management LLC acquired a new position in shares of The India Fund in the third quarter valued at $191,000. Nwam LLC bought a new position in shares of The India Fund in the third quarter valued at about $280,000. Finally, Matisse Capital acquired a new stake in shares of The India Fund during the 4th quarter worth about $238,000. 10.76% of the stock is owned by institutional investors and hedge funds.

The India Fund Stock Down 3.6 %

Shares of IFN stock opened at $15.28 on Friday. The India Fund, Inc. has a 52 week low of $15.25 and a 52 week high of $21.25. The company has a 50-day simple moving average of $15.99 and a 200 day simple moving average of $17.36.

The India Fund Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 21st will be issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 12.05%. The ex-dividend date of this dividend is Friday, February 21st.

The India Fund 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.