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

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 Trading Down 1.1 %

The firm has a 50-day moving average of $16.57 and a 200 day moving average of $17.67.

The India Fund Increases Dividend

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

Institutional Investors Weigh In On The India Fund

Large investors have recently made changes to their positions in the company. Planning Capital Management Corp boosted 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 during the last quarter. Cassaday & Co Wealth Management LLC raised its position in The India Fund by 5.3% in the third quarter. Cassaday & Co Wealth Management LLC now owns 15,409 shares of the investment management company’s stock worth $293,000 after acquiring an additional 774 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of The India Fund during the 3rd quarter worth $65,000. IHT Wealth Management LLC bought a new stake in shares of The India Fund during the 3rd quarter valued at $191,000. Finally, Consolidated Portfolio Review Corp increased its stake in shares of The India Fund by 10.6% in the 3rd quarter. Consolidated Portfolio Review Corp now owns 105,362 shares of the investment management company’s stock worth $2,004,000 after purchasing an additional 10,121 shares in the last quarter. 10.76% of the stock is currently owned by institutional investors.

About The 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.