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

The India Fund, Inc. (NYSE:IFN) shares crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $17.82 and traded as low as $16.06. The India Fund shares last traded at $16.21, with a volume of 115,097 shares traded.

The India Fund Price Performance

The firm’s 50-day moving average price is $16.95 and its 200-day moving average price is $17.82.

The India Fund Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Thursday, November 21st will be issued a dividend of $0.93 per share. This is a boost from The India Fund’s previous quarterly dividend of $0.49. The ex-dividend date is Thursday, November 21st. This represents a $3.72 dividend on an annualized basis and a yield of 22.95%.

Hedge Funds Weigh In On The India Fund

A number of large investors have recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB purchased a new stake in The India Fund during the 3rd quarter worth about $65,000. Planning Capital Management Corp lifted its holdings in shares of The India Fund by 21.3% in the third quarter. Planning Capital Management Corp now owns 4,181 shares of the investment management company’s stock worth $80,000 after buying an additional 733 shares in the last quarter. IHT Wealth Management LLC bought a new position in shares of The India Fund in the third quarter valued at approximately $191,000. Rathbones Group PLC boosted its position in shares of The India Fund by 22.6% in the second quarter. Rathbones Group PLC now owns 12,205 shares of the investment management company’s stock valued at $218,000 after acquiring an additional 2,246 shares during the period. Finally, Nwam LLC purchased a new position in The India Fund during the third quarter valued at approximately $280,000. 10.76% of the stock is owned by institutional investors.

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.