The India Fund (NYSE:IFN) Shares Pass Below Two Hundred Day Moving Average – Here’s What Happened

The India Fund, Inc. (NYSE:IFN)’s stock price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $17.68 and traded as low as $15.90. The India Fund shares last traded at $16.05, with a volume of 186,771 shares changing hands.

The India Fund Price Performance

The firm has a fifty day simple moving average of $16.57 and a two-hundred day simple moving average of $17.67.

The India Fund Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Thursday, November 21st were paid a $0.93 dividend. This is a positive change from The India Fund’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $3.72 dividend on an annualized basis and a yield of 23.47%.

Hedge Funds Weigh In On The India Fund

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Landscape Capital Management L.L.C. grew its position in shares of The India Fund by 25.3% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 715,745 shares of the investment management company’s stock worth $13,613,000 after buying an additional 144,609 shares during the period. Raymond James & Associates grew its holdings in The India Fund by 15.0% in the third quarter. Raymond James & Associates now owns 401,391 shares of the investment management company’s stock worth $7,634,000 after purchasing an additional 52,291 shares during the period. Penserra Capital Management LLC bought a new position in shares of The India Fund during the third quarter valued at approximately $4,794,000. Rivernorth Capital Management LLC purchased a new position in shares of The India Fund during the third quarter valued at approximately $3,540,000. Finally, Janney Montgomery Scott LLC purchased a new position in shares of The India Fund during the fourth quarter valued at approximately $2,722,000. Hedge funds and other institutional investors own 10.76% of the company’s stock.

The 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.