The India Fund, Inc. (NYSE:IFN - Get Free Report) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $17.38 and traded as low as $15.66. The India Fund shares last traded at $15.71, with a volume of 197,298 shares changing hands.
The India Fund Stock Down 3.6 %
The stock's fifty day moving average price is $15.99 and its 200-day moving average price is $17.36.
The India Fund Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 21st will be issued a dividend of $0.46 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $1.84 dividend on an annualized basis and a yield of 12.05%.
Hedge Funds Weigh In On The India Fund
A number of institutional investors have recently added to or reduced their stakes in the company. Planning Capital Management Corp increased its holdings in The India Fund by 21.3% during the third 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 last quarter. Cassaday & Co Wealth Management LLC boosted its position in The India Fund by 5.3% during the third quarter. Cassaday & Co Wealth Management LLC now owns 15,409 shares of the investment management company's stock worth $293,000 after purchasing an additional 774 shares during the period. Schnieders Capital Management LLC boosted its position in The India Fund by 4.2% during the fourth quarter. Schnieders Capital Management LLC now owns 32,034 shares of the investment management company's stock worth $505,000 after purchasing an additional 1,300 shares during the period. Steward Partners Investment Advisory LLC boosted its position in The India Fund by 8.7% during the fourth 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 boosted its position in The India Fund by 3.7% during the fourth quarter. Bank of America Corp DE now owns 70,182 shares of the investment management company's stock worth $1,105,000 after purchasing an additional 2,491 shares during the period. 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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