Shares of The India Fund, Inc. (NYSE:IFN – Get Rating) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $15.67 and traded as low as $15.25. The India Fund shares last traded at $15.28, with a volume of 61,084 shares traded.

The India Fund Trading Down 0.8 %

The firm has a 50-day moving average of $15.21 and a two-hundred day moving average of $15.67.

The India Fund Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 31st. Shareholders of record on Tuesday, February 21st were given a $0.43 dividend. The ex-dividend date of this dividend was Friday, February 17th. This represents a $1.72 annualized dividend and a yield of 11.26%.

Institutional Investors Weigh In On The India Fund

Institutional investors and hedge funds have recently made changes to their positions in the stock. Y.D. More Investments Ltd acquired a new stake in The India Fund during the fourth quarter worth approximately $25,000. IFP Advisors Inc bought a new position in shares of The India Fund in the third quarter valued at approximately $99,000. Advisor Group Holdings Inc. lifted its holdings in shares of The India Fund by 37.0% in the fourth quarter. Advisor Group Holdings Inc. now owns 8,869 shares of the investment management company's stock valued at $132,000 after purchasing an additional 2,395 shares in the last quarter. Elequin Securities LLC bought a new position in shares of The India Fund in the fourth quarter valued at approximately $143,000. Finally, Kovack Advisors Inc. bought a new position in shares of The India Fund in the first quarter valued at approximately $184,000. Institutional investors and hedge funds own 11.92% of the company's stock.

The India Fund Company Profile

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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.

Further Reading

• Get a free copy of the StockNews.com research report on The India Fund (IFN)
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