India Fund, Inc. (NYSE:IFN - Get Free Report)'s stock price passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $15.66 and traded as low as $15.05. India Fund shares last traded at $15.14, with a volume of 80,771 shares traded.
India Fund Stock Down 0.4%
The business has a 50 day simple moving average of $15.55 and a 200-day simple moving average of $15.66.
India Fund Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, August 22nd will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 11.5%. The ex-dividend date of this dividend is Friday, August 22nd. This is a positive change from India Fund's previous quarterly dividend of $0.41.
Institutional Trading of India Fund
A number of hedge funds have recently added to or reduced their stakes in the business. Penserra Capital Management LLC boosted its stake in India Fund by 3.0% in the 2nd quarter. Penserra Capital Management LLC now owns 1,002,545 shares of the investment management company's stock worth $16,572,000 after buying an additional 29,609 shares during the last quarter. Raymond James Financial Inc. lifted its stake in shares of India Fund by 11.1% in the 1st quarter. Raymond James Financial Inc. now owns 527,682 shares of the investment management company's stock valued at $8,322,000 after purchasing an additional 52,520 shares in the last quarter. Cetera Investment Advisers lifted its stake in shares of India Fund by 10.0% in the 2nd quarter. Cetera Investment Advisers now owns 522,340 shares of the investment management company's stock valued at $8,634,000 after purchasing an additional 47,284 shares in the last quarter. Strs Ohio acquired a new position in shares of India Fund in the 1st quarter valued at about $3,785,000. Finally, Janney Montgomery Scott LLC lifted its stake in shares of India Fund by 8.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 186,602 shares of the investment management company's stock valued at $2,943,000 after purchasing an additional 13,747 shares in the last quarter. 10.76% of the stock is owned by institutional investors and hedge funds.
India Fund Company Profile
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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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