India Fund (NYSE:IFN) Share Price Passes Below 200-Day Moving Average - What's Next?

Key Points

• The India Fund's stock price fell below its 200-day moving average, trading at $14.64 on Tuesday, down from a 200-day average of $15.67.
• India Fund recently announced a quarterly dividend increase to $0.43 per share, representing a yield of 11.7% and an annualized dividend of $1.72.
• A significant number of institutional investors, including Colonial Trust Advisors and Brown Advisory Inc., have recently acquired positions in the India Fund, which is now about 10.76% owned by institutional investors.

India Fund, Inc. (NYSE:IFN - )'s stock price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $15.67 and traded as low as $14.56. India Fund shares last traded at $14.64, with a volume of 214,876 shares changing hands.

India Fund Stock Performance

The stock has a 50 day moving average of $15.26 and a 200 day moving average of $15.67.

India Fund Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Friday, August 22nd were given a dividend of $0.43 per share. This is an increase from India Fund's previous quarterly dividend of $0.41. This represents a $1.72 annualized dividend and a dividend yield of 11.7%. The ex-dividend date was Friday, August 22nd.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of IFN. Colonial Trust Advisors bought a new position in shares of India Fund in the second quarter worth $31,000. Allworth Financial LP acquired a new position in shares of India Fund during the 2nd quarter valued at $65,000. Farther Finance Advisors LLC increased its position in shares of India Fund by 19.7% during the 1st quarter. Farther Finance Advisors LLC now owns 4,660 shares of the investment management company's stock valued at $73,000 after purchasing an additional 768 shares during the period. Aberdeen Group plc bought a new stake in shares of India Fund in the 1st quarter worth $161,000. Finally, Brown Advisory Inc. acquired a new stake in shares of India Fund in the first quarter valued at $162,000. 10.76% of the stock is owned by institutional investors and hedge funds.

About India Fund

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.

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