The India Fund (NYSE:IFN) Shares Cross Below 200-Day Moving Average of $15.61

Shares of The India Fund, Inc. (NYSE:IFN – Get Rating) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $15.61 and traded as low as $15.13. The India Fund shares last traded at $15.16, with a volume of 72,637 shares changing hands.

The India Fund Trading Up 1.3 %

The stock’s fifty day simple moving average is $15.29 and its 200 day simple moving average is $15.61.

The India Fund Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, May 19th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, May 18th. This represents a $1.56 dividend on an annualized basis and a yield of 10.14%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Colony Group LLC increased its stake in The India Fund by 306.7% in the 3rd quarter. Colony Group LLC now owns 133,358 shares of the investment management company’s stock worth $2,144,000 after buying an additional 100,570 shares in the last quarter. Consolidated Portfolio Review Corp purchased a new stake in The India Fund in the 1st quarter worth $1,327,000. Atria Wealth Solutions Inc. increased its stake in The India Fund by 149.4% in the 4th quarter. Atria Wealth Solutions Inc. now owns 58,097 shares of the investment management company’s stock worth $918,000 after buying an additional 34,803 shares in the last quarter. Bank of America Corp DE increased its stake in The India Fund by 10.9% in the 1st quarter. Bank of America Corp DE now owns 266,978 shares of the investment management company’s stock worth $5,155,000 after buying an additional 26,257 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its stake in The India Fund by 25.5% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 79,830 shares of the investment management company’s stock worth $1,542,000 after buying an additional 16,242 shares in the last quarter. 11.92% of the stock is 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.