The India Fund (NYSE:IFN) Shares Pass Below Two Hundred Day Moving Average of $18.55

The India Fund, Inc. (NYSE:IFN)’s share price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $18.55 and traded as low as $18.09. The India Fund shares last traded at $18.16, with a volume of 54,155 shares trading hands.

The India Fund Stock Performance

The business’s 50 day simple moving average is $18.21 and its two-hundred day simple moving average is $18.52.

The India Fund Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, August 23rd will be given a dividend of $0.49 per share. The ex-dividend date of this dividend is Friday, August 23rd. This represents a $1.96 dividend on an annualized basis and a yield of 10.79%. This is a positive change from The India Fund’s previous quarterly dividend of $0.45.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. National Bank of Canada FI grew its position in shares of The India Fund by 233.3% in 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 buying an additional 1,400 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in The India Fund during the 2nd quarter valued at approximately $37,000. Rathbones Group PLC raised its holdings in The India Fund by 22.6% during the 2nd quarter. Rathbones Group PLC now owns 12,205 shares of the investment management company’s stock worth $218,000 after purchasing an additional 2,246 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in shares of The India Fund in the 2nd quarter worth approximately $219,000. Finally, Focus Financial Network Inc. ADV bought a new stake in shares of The India Fund in the 4th quarter valued at $238,000. Institutional investors and hedge funds own 10.76% of the company’s stock.

The India Fund Company Profile

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.