The India Fund, Inc. (NYSE:IFN – Get Rating)'s share price passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $15.79 and traded as low as $15.10. The India Fund shares last traded at $15.12, with a volume of 55,344 shares changing hands.
The India Fund Price Performance
The firm's 50 day moving average price is $15.42 and its two-hundred day moving average price is $15.79.
Get The India Fund alerts:The India Fund Cuts Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, March 31st. Stockholders of record on Tuesday, February 21st were issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 11.38%. The ex-dividend date of this dividend was Friday, February 17th.
Institutional Trading of The India Fund
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Raymond James & Associates grew its holdings in The India Fund by 3.2% during the 1st quarter. Raymond James & Associates now owns 24,022 shares of the investment management company's stock valued at $464,000 after buying an additional 744 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in shares of The India Fund by 25.5% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 79,830 shares of the investment management company's stock valued at $1,542,000 after acquiring an additional 16,242 shares during the period. Cibc World Market Inc. grew its stake in The India Fund by 39.0% during the first quarter. Cibc World Market Inc. now owns 37,373 shares of the investment management company's stock valued at $722,000 after acquiring an additional 10,490 shares in the last quarter. Lazard Asset Management LLC grew its stake in The India Fund by 0.3% during the first quarter. Lazard Asset Management LLC now owns 2,327,151 shares of the investment management company's stock valued at $44,937,000 after acquiring an additional 6,351 shares in the last quarter. Finally, UBS Group AG increased its holdings in The India Fund by 8.9% during the 1st quarter. UBS Group AG now owns 32,611 shares of the investment management company's stock worth $630,000 after acquiring an additional 2,671 shares during the period. 11.92% of the stock is currently owned by institutional investors.
About The India Fund
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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.
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