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

The India Fund, Inc. (NYSE:IFN) passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $17.89 and traded as low as $15.70. The India Fund shares last traded at $15.75, with a volume of 368,681 shares changing hands.

The India Fund Stock Performance

The business’s 50 day moving average price is $17.11 and its 200 day moving average price is $17.88.

The India Fund Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Thursday, November 21st will be paid a dividend of $0.93 per share. This is a positive change from The India Fund’s previous quarterly dividend of $0.49. This represents a $3.72 annualized dividend and a yield of 23.19%. The ex-dividend date of this dividend is Thursday, November 21st.

Hedge Funds Weigh In On The India Fund

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Landscape Capital Management L.L.C. raised its stake in 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 valued at $13,613,000 after purchasing an additional 144,609 shares during the last quarter. Raymond James & Associates grew its holdings in shares of The India Fund by 15.0% during the third quarter. Raymond James & Associates now owns 401,391 shares of the investment management company’s stock worth $7,634,000 after buying an additional 52,291 shares in the last quarter. Penserra Capital Management LLC acquired a new stake in shares of The India Fund in the third quarter valued at about $4,794,000. Rivernorth Capital Management LLC purchased a new position in shares of The India Fund in the third quarter worth about $3,540,000. Finally, Consolidated Portfolio Review Corp lifted its stake in shares of The India Fund by 10.6% in the third quarter. Consolidated Portfolio Review Corp now owns 105,362 shares of the investment management company’s stock worth $2,004,000 after buying an additional 10,121 shares in the last quarter. 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.