Shares of The India Fund, Inc. (NYSE:IFN - Get Free Report) crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $16.43 and traded as low as $14.54. The India Fund shares last traded at $14.72, with a volume of 118,421 shares traded.
The India Fund Stock Performance
The stock's 50 day simple moving average is $15.12 and its two-hundred day simple moving average is $16.35.
The India Fund Cuts Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, February 21st were given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 12.01%. The ex-dividend date was Friday, February 21st.
Hedge Funds Weigh In On The India Fund
A number of large investors have recently modified their holdings of the company. Farther Finance Advisors LLC increased its position in The 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 worth $73,000 after purchasing an additional 768 shares in the last quarter. Schnieders Capital Management LLC lifted its holdings in shares of The India Fund by 4.2% during the 4th quarter. Schnieders Capital Management LLC now owns 32,034 shares of the investment management company's stock valued at $505,000 after acquiring an additional 1,300 shares in the last quarter. Robertson Stephens Wealth Management LLC lifted its holdings in shares of The India Fund by 8.8% during the 1st quarter. Robertson Stephens Wealth Management LLC now owns 28,350 shares of the investment management company's stock valued at $447,000 after acquiring an additional 2,300 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its position in The India Fund by 8.7% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 30,925 shares of the investment management company's stock worth $487,000 after purchasing an additional 2,474 shares during the period. Finally, Bank of America Corp DE raised its position in The India Fund by 3.7% in the fourth quarter. Bank of America Corp DE now owns 70,182 shares of the investment management company's stock valued at $1,105,000 after purchasing an additional 2,491 shares during the period. 10.76% of the stock is currently owned by hedge funds and other institutional investors.
The 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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