The India Fund (NYSE:IFN) Shares Gap Down to $18.41

The India Fund, Inc. (NYSE:IFN - Get Free Report) shares gapped down prior to trading on Wednesday . The stock had previously closed at $18.41, but opened at $18.01. The India Fund shares last traded at $17.35, with a volume of 637,921 shares.

The India Fund Stock Down 4.7 %

The company has a fifty day moving average price of $20.10 and a 200 day moving average price of $18.54.

The India Fund Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, February 22nd were issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 9.80%. The ex-dividend date of this dividend was Wednesday, February 21st. This is an increase from The India Fund's previous quarterly dividend of $0.41.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of IFN. Morgan Stanley increased its holdings in The India Fund by 15.5% during the 3rd quarter. Morgan Stanley now owns 1,084,797 shares of the investment management company's stock valued at $18,897,000 after purchasing an additional 145,590 shares during the period. Royal Bank of Canada increased its holdings in The India Fund by 55.2% during the 4th quarter. Royal Bank of Canada now owns 178,481 shares of the investment management company's stock valued at $3,265,000 after purchasing an additional 63,497 shares during the period. Atria Wealth Solutions Inc. increased its holdings in The India Fund by 33.4% during the 3rd quarter. Atria Wealth Solutions Inc. now owns 215,380 shares of the investment management company's stock valued at $3,752,000 after purchasing an additional 53,907 shares during the period. Imprint Wealth LLC purchased a new position in The India Fund during the 2nd quarter valued at about $5,104,000. Finally, International Assets Investment Management LLC purchased a new position in The India Fund during the 4th quarter valued at about $669,000. Hedge funds and other institutional investors own 10.76% of the company's stock.

The India Fund Company 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.