The India Fund, Inc. (NYSE:IFN - Get Free Report) saw unusually-strong trading volume on Monday . Approximately 142,271 shares were traded during mid-day trading, an increase of 6% from the previous session's volume of 134,187 shares.The stock last traded at $19.88 and had previously closed at $20.41.
The India Fund Stock Down 5.3 %
The stock's 50 day simple moving average is $20.18 and its 200 day simple moving average is $18.46.
The India Fund Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, February 22nd were paid a $0.43 dividend. This is a boost from The India Fund's previous quarterly dividend of $0.41. The ex-dividend date was Wednesday, February 21st. This represents a $1.72 dividend on an annualized basis and a dividend yield of 8.90%.
Institutional Investors Weigh In On The India Fund
A number of institutional investors have recently made changes to their positions in the business. Royal Bank of Canada boosted its stake in shares of The India Fund by 55.2% in 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 in the last quarter. Oppenheimer & Co. Inc. boosted its stake in shares of The India Fund by 17.5% in the 4th quarter. Oppenheimer & Co. Inc. now owns 33,643 shares of the investment management company's stock valued at $615,000 after purchasing an additional 5,007 shares in the last quarter. Focus Financial Network Inc. ADV purchased a new stake in shares of The India Fund in the 4th quarter valued at $238,000. UBS Group AG boosted its stake in shares of The India Fund by 11.5% in the 4th quarter. UBS Group AG now owns 27,573 shares of the investment management company's stock valued at $504,000 after purchasing an additional 2,847 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in shares of The India Fund by 1.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 124,597 shares of the investment management company's stock valued at $2,279,000 after purchasing an additional 1,576 shares in the last quarter. Hedge funds and other institutional investors own 10.76% of the company's stock.
About The India Fund
(
Get Free Report)
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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