The India Fund (NYSE:IFN) Stock Crosses Below 200-Day Moving Average – What’s Next?

The India Fund, Inc. (NYSE:IFN)’s share price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $17.38 and traded as low as $15.66. The India Fund shares last traded at $15.71, with a volume of 197,298 shares traded.

The India Fund Stock Down 0.4 %

The company has a 50-day moving average price of $16.05 and a 200 day moving average price of $17.38.

The India Fund Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 21st will be given a $0.46 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $1.84 annualized dividend and a dividend yield of 11.71%.

Institutional Trading of The India Fund

Hedge funds and other institutional investors have recently modified their holdings of the business. Noble Wealth Management PBC acquired a new stake in The India Fund during the fourth quarter valued at $49,000. Wilmington Savings Fund Society FSB acquired a new stake in The India Fund during the third quarter valued at $65,000. Farther Finance Advisors LLC boosted its position in The India Fund by 21,522.2% during the fourth quarter. Farther Finance Advisors LLC now owns 3,892 shares of the investment management company’s stock valued at $61,000 after purchasing an additional 3,874 shares during the last quarter. Planning Capital Management Corp boosted its position in The India Fund by 21.3% during the third quarter. Planning Capital Management Corp now owns 4,181 shares of the investment management company’s stock valued at $80,000 after purchasing an additional 733 shares during the last quarter. Finally, Elequin Capital LP acquired a new stake in The India Fund during the fourth quarter valued at $143,000. Institutional investors and hedge funds 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.