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

Noble Wealth Management PBC purchased a new stake in The India Fund, Inc. (NYSE:IFN) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 3,100 shares of the investment management company’s stock, valued at approximately $49,000.

Several other large investors have also modified their holdings of the business. Planning Capital Management Corp lifted its stake in The India Fund by 21.3% during the 3rd quarter. Planning Capital Management Corp now owns 4,181 shares of the investment management company’s stock worth $80,000 after acquiring an additional 733 shares in the last quarter. Cassaday & Co Wealth Management LLC lifted its stake in The India Fund by 5.3% during the 3rd quarter. Cassaday & Co Wealth Management LLC now owns 15,409 shares of the investment management company’s stock worth $293,000 after acquiring an additional 774 shares in the last quarter. Schnieders Capital Management LLC lifted its stake in The India Fund by 4.2% during the 4th quarter. Schnieders Capital Management LLC now owns 32,034 shares of the investment management company’s stock worth $505,000 after acquiring an additional 1,300 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in The India Fund during the 3rd quarter worth about $65,000. Finally, IHT Wealth Management LLC purchased a new stake in The India Fund during the 3rd quarter worth about $191,000. Institutional investors and hedge funds own 10.76% of the company’s stock.

The India Fund Stock Performance

Shares of NYSE IFN opened at $14.46 on Friday. The stock’s 50-day moving average is $15.82 and its two-hundred day moving average is $17.24. The India Fund, Inc. has a 1-year low of $14.40 and a 1-year high of $21.25.

The India Fund Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 21st will be issued a dividend of $0.46 per share. The ex-dividend date is Friday, February 21st. This represents a $1.84 annualized dividend and a yield of 12.72%.

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.