India Fund (NYSE:IFN) Shares Pass Below 200 Day Moving Average – What’s Next?

India Fund, Inc. (NYSE:IFN)’s stock price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $15.64 and traded as low as $15.22. India Fund shares last traded at $15.29, with a volume of 124,717 shares traded.

India Fund Price Performance

The stock has a fifty day moving average price of $15.05 and a 200 day moving average price of $15.64.

India Fund Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Friday, August 22nd were issued a $0.43 dividend. The ex-dividend date of this dividend was Friday, August 22nd. This is an increase from India Fund’s previous quarterly dividend of $0.41. This represents a $1.72 dividend on an annualized basis and a dividend yield of 11.3%.

Hedge Funds Weigh In On India Fund

Large investors have recently made changes to their positions in the stock. Colonial Trust Advisors bought a new position in shares of India Fund in the second quarter worth $31,000. Allworth Financial LP bought a new position in shares of India Fund in the second quarter worth $65,000. Alteri Wealth LLC bought a new position in shares of India Fund in the second quarter worth $168,000. Brown Advisory Inc. bought a new position in shares of India Fund in the first quarter worth $162,000. Finally, Aberdeen Group plc bought a new position in shares of India Fund in the first quarter worth $161,000. 10.76% of the stock is owned by institutional investors.

About 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.