The India Fund (NYSE:IFN) Stock Price Crosses Below Two Hundred Day Moving Average of $18.85

Shares of The India Fund, Inc. (NYSE:IFN) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $18.85 and traded as low as $17.76. The India Fund shares last traded at $17.91, with a volume of 116,768 shares.

The India Fund Trading Down 0.8 %

The firm has a fifty day moving average of $17.88 and a 200-day moving average of $18.85.

The India Fund Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Thursday, May 30th will be issued a dividend of $0.45 per share. The ex-dividend date is Thursday, May 30th. This is a boost from The India Fund’s previous quarterly dividend of $0.43. This represents a $1.80 annualized dividend and a yield of 10.13%.

Hedge Funds Weigh In On The India Fund

Several hedge funds have recently bought and sold shares of the stock. Atria Wealth Solutions Inc. increased its position in The India Fund by 16.6% during the fourth quarter. Atria Wealth Solutions Inc. now owns 251,216 shares of the investment management company’s stock worth $4,595,000 after buying an additional 35,836 shares in the last quarter. Beck Capital Management LLC increased its position in The India Fund by 0.8% during the first quarter. Beck Capital Management LLC now owns 183,425 shares of the investment management company’s stock worth $3,755,000 after buying an additional 1,418 shares in the last quarter. Janney Montgomery Scott LLC increased its position in The India Fund by 4.3% during the first quarter. Janney Montgomery Scott LLC now owns 129,999 shares of the investment management company’s stock worth $2,661,000 after buying an additional 5,402 shares in the last quarter. PFG Investments LLC purchased a new position in The India Fund during the first quarter worth $1,694,000. Finally, Consolidated Portfolio Review Corp increased its position in The India Fund by 2.3% during the first quarter. Consolidated Portfolio Review Corp now owns 81,823 shares of the investment management company’s stock worth $1,675,000 after buying an additional 1,863 shares in the last quarter. 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.