The India Fund (NYSE:IFN) Shares Pass Below 200-Day Moving Average of $18.85

The India Fund, Inc. (NYSE:IFN) passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred 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 traded.

The India Fund Trading Up 0.4 %

The firm’s fifty day moving average price is $17.92 and its 200-day moving average price is $18.85.

The India Fund Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Thursday, May 30th will be given a $0.45 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 10.05%. This is an increase from The India Fund’s previous quarterly dividend of $0.43.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Raymond James & Associates lifted its holdings in shares of The India Fund by 25.0% during the 4th quarter. Raymond James & Associates now owns 25,641 shares of the investment management company’s stock worth $469,000 after acquiring an additional 5,129 shares during the period. American Institute for Advanced Investment Management LLP acquired a new position in The India Fund in the fourth quarter worth about $245,000. International Assets Investment Management LLC bought a new position in The India Fund during the fourth quarter worth about $669,000. Koshinski Asset Management Inc. boosted its holdings in The India Fund by 104.9% during the fourth quarter. Koshinski Asset Management Inc. now owns 44,315 shares of the investment management company’s stock valued at $811,000 after purchasing an additional 22,687 shares in the last quarter. Finally, Western Wealth Management LLC acquired a new stake in The India Fund during the fourth quarter valued at approximately $215,000. 10.76% of the stock is currently owned by institutional investors and hedge funds.

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.