The India Fund (NYSE:IFN) Shares Cross Below Two Hundred Day Moving Average of $18.84

The India Fund, Inc. (NYSE:IFN) passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $18.84 and traded as low as $17.76. The India Fund shares last traded at $17.81, with a volume of 75,476 shares.

The India Fund Stock Performance

The stock has a 50-day moving average of $17.80 and a 200-day moving average of $18.84.

The India Fund Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Thursday, May 30th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $1.80 annualized dividend and a dividend yield of 10.11%. This is a positive change from The India Fund’s previous quarterly dividend of $0.43.

Institutional Trading of The India Fund

Hedge funds have recently bought and sold shares of the company. Schnieders Capital Management LLC raised its holdings in shares of The India Fund by 5.4% during the fourth quarter. Schnieders Capital Management LLC now owns 25,359 shares of the investment management company’s stock valued at $464,000 after buying an additional 1,300 shares during the last quarter. National Bank of Canada FI raised its stake in The India Fund by 233.3% during the 4th quarter. National Bank of Canada FI now owns 2,000 shares of the investment management company’s stock valued at $37,000 after acquiring an additional 1,400 shares in the last quarter. Beck Capital Management LLC boosted its position in The India Fund by 0.8% during the 1st quarter. Beck Capital Management LLC now owns 183,425 shares of the investment management company’s stock worth $3,755,000 after acquiring an additional 1,418 shares during the period. Commonwealth Equity Services LLC boosted its position in The India Fund by 3.4% during the 1st quarter. Commonwealth Equity Services LLC now owns 46,902 shares of the investment management company’s stock worth $960,000 after acquiring an additional 1,534 shares during the period. Finally, Janney Montgomery Scott LLC grew its stake in shares of The India Fund by 1.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 124,597 shares of the investment management company’s stock worth $2,279,000 after purchasing an additional 1,576 shares in the last quarter. 10.76% of the stock is currently owned by institutional investors.

About The India Fund

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.