The India Fund, Inc. (NYSE:IFN - Get Free Report) shares saw unusually-high trading volume on Monday . Approximately 275,650 shares were traded during trading, an increase of 69% from the previous session's volume of 163,579 shares.The stock last traded at $18.48 and had previously closed at $19.40.
The India Fund Trading Down 4.8 %
The business has a 50 day simple moving average of $20.18 and a two-hundred day simple moving average of $18.54.
The India Fund Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, February 22nd were given a $0.43 dividend. This is a positive change from The India Fund's previous quarterly dividend of $0.41. The ex-dividend date was Wednesday, February 21st. This represents a $1.72 annualized dividend and a dividend yield of 9.31%.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in IFN. Morgan Stanley grew its position in shares of The India Fund by 15.5% in the 3rd quarter. Morgan Stanley now owns 1,084,797 shares of the investment management company's stock worth $18,897,000 after acquiring an additional 145,590 shares in the last quarter. Royal Bank of Canada lifted its holdings 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 worth $3,265,000 after purchasing an additional 63,497 shares during the last quarter. Atria Wealth Solutions Inc. lifted its holdings in shares of The India Fund by 33.4% in the 3rd quarter. Atria Wealth Solutions Inc. now owns 215,380 shares of the investment management company's stock worth $3,752,000 after purchasing an additional 53,907 shares during the last quarter. Imprint Wealth LLC bought a new stake in shares of The India Fund in the 2nd quarter worth approximately $5,104,000. Finally, International Assets Investment Management LLC bought a new stake in shares of The India Fund in the 4th quarter worth approximately $669,000. Institutional investors and hedge funds own 10.76% of the company's stock.
The India Fund Company Profile
(
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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