The India Fund (NYSE:IFN) Stock Passes Below Two Hundred Day Moving Average – Here’s Why

Shares of The India Fund, Inc. (NYSE:IFN) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $17.08 and traded as low as $14.57. The India Fund shares last traded at $14.60, with a volume of 204,624 shares changing hands.

The India Fund Trading Down 1.9 %

The company’s fifty day moving average is $15.68 and its 200 day moving average is $17.08.

The India Fund Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 21st will be given a dividend of $0.46 per share. The ex-dividend date is Friday, February 21st. This represents a $1.84 annualized dividend and a yield of 12.61%.

Institutional Investors Weigh In On The India Fund

Institutional investors have recently added to or reduced their stakes in the company. Noble Wealth Management PBC purchased a new stake in The India Fund during the 4th quarter valued at $49,000. Farther Finance Advisors LLC lifted its position in shares of The India Fund by 21,522.2% in the 4th quarter. Farther Finance Advisors LLC now owns 3,892 shares of the investment management company’s stock worth $61,000 after purchasing an additional 3,874 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of The India Fund in the 3rd quarter worth about $65,000. Planning Capital Management Corp lifted its position in shares of The India Fund by 21.3% in the 3rd quarter. Planning Capital Management Corp now owns 4,181 shares of the investment management company’s stock worth $80,000 after purchasing an additional 733 shares during the period. Finally, Elequin Capital LP purchased a new stake in shares of The India Fund in the 4th quarter worth about $143,000. Hedge funds and other institutional investors own 10.76% of the company’s stock.

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.