Shares of The India Fund, Inc. (NYSE:IFN - Get Free Report) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $17.59 and traded as low as $15.90. The India Fund shares last traded at $16.09, with a volume of 104,775 shares.
The India Fund Stock Up 1.4 %
The company has a 50 day simple moving average of $16.36 and a 200-day simple moving average of $17.55.
The India Fund Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Thursday, November 21st were given a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 23.07%. The ex-dividend date was Thursday, November 21st. This is an increase from The India Fund's previous quarterly dividend of $0.49.
Institutional Investors Weigh In On The India Fund
A number of large investors have recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB acquired a new position in shares of The India Fund during the third quarter valued at about $65,000. Planning Capital Management Corp raised its stake in The India Fund by 21.3% during the 3rd quarter. Planning Capital Management Corp now owns 4,181 shares of the investment management company's stock worth $80,000 after buying an additional 733 shares during the period. IHT Wealth Management LLC acquired a new position in The India Fund during the 3rd quarter worth approximately $191,000. Matisse Capital bought a new position in The India Fund in the fourth quarter worth approximately $238,000. Finally, Pallas Capital Advisors LLC acquired a new stake in The India Fund in the fourth quarter valued at approximately $268,000. 10.76% of the stock is currently owned by institutional investors and hedge funds.
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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