Rivernorth Capital Management LLC Invests $986,000 in India Fund, Inc. $IFN

Rivernorth Capital Management LLC purchased a new position in shares of India Fund, Inc. (NYSE:IFN) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 83,942 shares of the investment management company’s stock, valued at approximately $986,000. Rivernorth Capital Management LLC owned 0.20% of India Fund at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Decision Investments Inc. purchased a new position in shares of India Fund during the first quarter valued at approximately $178,000. Virtu Financial LLC purchased a new position in India Fund during the 4th quarter valued at $229,000. EP Wealth Advisors LLC bought a new position in India Fund in the 4th quarter valued at $809,000. NewEdge Advisors LLC grew its position in India Fund by 11.7% in the 4th quarter. NewEdge Advisors LLC now owns 18,543 shares of the investment management company’s stock valued at $254,000 after acquiring an additional 1,939 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in India Fund in the fourth quarter worth $666,000. 10.76% of the stock is currently owned by institutional investors.

India Fund Trading Down 0.1%

NYSE:IFN opened at $11.46 on Monday. India Fund, Inc. has a twelve month low of $10.72 and a twelve month high of $15.47. The stock has a fifty day simple moving average of $11.64 and a 200-day simple moving average of $11.85.

India Fund Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Monday, August 24th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 12.9%. The ex-dividend date of this dividend is Monday, August 24th.

India Fund Profile

The India Fund, Inc (NYSE: IFN) is a closed-end management investment company incorporated in Maryland. It seeks to provide shareholders with long-term growth of capital, as well as current income. The fund trades on the New York Stock Exchange and offers investors access to equity markets in India through a diversified portfolio of Indian companies.

IFN invests primarily in equity securities of companies organized or domiciled in India, including common stocks, depositary receipts and other equity-related instruments.