India Fund (NYSE:IFN) Shares Cross Below Two Hundred Day Moving Average – Here’s Why

India Fund, Inc. (NYSE:IFN)’s share price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $15.50 and traded as low as $14.28. India Fund shares last traded at $14.2950, with a volume of 178,122 shares.

India Fund Trading Down 1.1%

The business’s 50-day moving average is $14.89 and its 200-day moving average is $15.50.

India Fund Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 12th. Stockholders of record on Friday, November 21st will be paid a $0.906 dividend. The ex-dividend date is Friday, November 21st. This is a positive change from India Fund’s previous quarterly dividend of $0.43. This represents a $3.62 dividend on an annualized basis and a dividend yield of 25.4%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. LPL Financial LLC boosted its position in India Fund by 13.5% in the 1st quarter. LPL Financial LLC now owns 141,802 shares of the investment management company’s stock worth $2,236,000 after purchasing an additional 16,877 shares in the last quarter. Aberdeen Group plc purchased a new stake in India Fund during the first quarter worth $161,000. Raymond James Financial Inc. boosted its holdings in India Fund by 11.1% during the first quarter. Raymond James Financial Inc. now owns 527,682 shares of the investment management company’s stock worth $8,322,000 after buying an additional 52,520 shares in the last quarter. Elequin Capital LP grew its position in India Fund by 44.4% during the first quarter. Elequin Capital LP now owns 13,145 shares of the investment management company’s stock valued at $207,000 after buying an additional 4,043 shares during the period. Finally, Focus Partners Wealth increased its holdings in India Fund by 14.4% in the first quarter. Focus Partners Wealth now owns 50,510 shares of the investment management company’s stock valued at $797,000 after buying an additional 6,363 shares in the last quarter. 10.76% of the stock is owned by institutional investors and hedge funds.

India Fund Company Profile

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.