The India Fund (NYSE:IFN) Shares Cross Below Two Hundred Day Moving Average – What’s Next?

The India Fund, Inc. (NYSE:IFN) shares passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $17.59 and traded as low as $15.90. The India Fund shares last traded at $16.09, with a volume of 104,775 shares.

The India Fund Trading Up 1.3 %

The company has a 50 day moving average of $16.41 and a 200-day moving average of $17.59.

The India Fund Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Thursday, November 21st were paid a $0.93 dividend. This is a positive change from The India Fund’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $3.72 annualized dividend and a dividend yield of 23.12%.

Institutional Investors Weigh In On The India Fund

Large investors have recently added to or reduced their stakes in the business. Raymond James & Associates increased its holdings in The India Fund by 15.0% during the 3rd quarter. Raymond James & Associates now owns 401,391 shares of the investment management company’s stock worth $7,634,000 after purchasing an additional 52,291 shares during the period. International Assets Investment Management LLC increased its stake in shares of The India Fund by 1,850.8% during the third quarter. International Assets Investment Management LLC now owns 40,811 shares of the investment management company’s stock worth $7,760,000 after buying an additional 38,719 shares during the period. Consolidated Portfolio Review Corp increased its stake in shares of The India Fund by 10.6% during the third quarter. Consolidated Portfolio Review Corp now owns 105,362 shares of the investment management company’s stock worth $2,004,000 after buying an additional 10,121 shares during the period. Concurrent Investment Advisors LLC acquired a new stake in The India Fund in the third quarter valued at approximately $881,000. Finally, Planning Capital Management Corp lifted its stake in The India Fund by 21.3% in the third quarter. Planning Capital Management Corp now owns 4,181 shares of the investment management company’s stock worth $80,000 after acquiring an additional 733 shares during the last quarter. 10.76% of the stock is owned by hedge funds and other 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.