The India Fund (NYSE:IFN) Shares Cross Below 200-Day Moving Average of $18.55

The India Fund, Inc. (NYSE:IFN) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $18.55 and traded as low as $18.09. The India Fund shares last traded at $18.16, with a volume of 54,155 shares trading hands.

The India Fund Trading Up 0.2 %

The company has a 50 day simple moving average of $18.20 and a 200-day simple moving average of $18.55.

The India Fund Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, August 23rd will be paid a dividend of $0.49 per share. The ex-dividend date of this dividend is Friday, August 23rd. This is a boost from The India Fund’s previous quarterly dividend of $0.45. This represents a $1.96 annualized dividend and a yield of 10.79%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of IFN. Raymond James & Associates lifted its holdings in The India Fund by 168.3% in the second quarter. Raymond James & Associates now owns 349,100 shares of the investment management company’s stock worth $6,235,000 after acquiring an additional 218,980 shares during the last quarter. Atria Wealth Solutions Inc. grew its holdings in shares of The India Fund by 26.2% during the second quarter. Atria Wealth Solutions Inc. now owns 368,268 shares of the investment management company’s stock valued at $6,577,000 after purchasing an additional 76,436 shares during the last quarter. Sea Otter Advisors LLC acquired a new stake in shares of The India Fund during the 2nd quarter worth approximately $1,179,000. Wolverine Asset Management LLC bought a new stake in shares of The India Fund in the 2nd quarter worth approximately $846,000. Finally, Logan Stone Capital LLC acquired a new position in The India Fund during the 2nd quarter valued at approximately $784,000. 10.76% of the stock is 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.