City of London Investment Management Co. Ltd. reduced its holdings in The India Fund, Inc. (NYSE:IFN) by 16.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,083,038 shares of the investment management company’s stock after selling 418,791 shares during the quarter. The India Fund comprises 3.8% of City of London Investment Management Co. Ltd.’s portfolio, making the stock its 10th biggest holding. City of London Investment Management Co. Ltd. owned approximately 7.33% of The India Fund worth $54,367,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of IFN. Hermes Investment Management Ltd. acquired a new stake in shares of The India Fund in the third quarter valued at about $9,249,000. Wells Fargo & Company MN lifted its stake in shares of The India Fund by 30.5% in the fourth quarter. Wells Fargo & Company MN now owns 1,231,416 shares of the investment management company’s stock valued at $32,165,000 after buying an additional 287,993 shares during the period. Oppenheimer & Co. Inc. bought a new stake in shares of The India Fund in the fourth quarter valued at about $1,018,000. Candriam Luxembourg S.C.A. bought a new stake in shares of The India Fund in the fourth quarter valued at about $549,000. Finally, Doliver Capital Advisors LP lifted its stake in shares of The India Fund by 164.5% in the third quarter. Doliver Capital Advisors LP now owns 29,061 shares of the investment management company’s stock valued at $779,000 after buying an additional 18,074 shares during the period. 22.31% of the stock is currently owned by institutional investors.
Shares of The India Fund, Inc. (NYSE:IFN) opened at $25.89 on Tuesday. The India Fund, Inc. has a one year low of $22.88 and a one year high of $28.81. The firm has a market cap of $735.37, a PE ratio of -172.60 and a beta of 0.99.
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About The India Fund
The India Fund, Inc (the Fund) is a non-diversified closed-end management investment company. The Fund’s investment objective is long-term capital appreciation, which it seeks to achieve by investing primarily in the equity securities of Indian companies. The Fund’s portfolio of investments includes financials, consumer staples, information technology, materials, healthcare, consumer discretionary, industrials, telecommunication services and energy.
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