The India Fund (NYSE:IFN) Stock Passes Below 200-Day Moving Average of $16.24

Shares of The India Fund, Inc. (NYSE:IFN – Get Rating) crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $16.24 and traded as low as $15.39. The India Fund shares last traded at $15.50, with a volume of 95,252 shares changing hands.

The India Fund Stock Performance

The business’s 50 day simple moving average is $15.64 and its two-hundred day simple moving average is $16.24.

The India Fund Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Tuesday, February 21st will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 11.10%. The ex-dividend date of this dividend is Friday, February 17th.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of IFN. Y.D. More Investments Ltd purchased a new stake in The India Fund in the 4th quarter worth $25,000. SeaCrest Wealth Management LLC purchased a new stake in shares of The India Fund during the 2nd quarter valued at about $26,000. IFP Advisors Inc purchased a new stake in shares of The India Fund during the 3rd quarter valued at about $99,000. Advisor Group Holdings Inc. raised its position in shares of The India Fund by 37.0% during the 4th quarter. Advisor Group Holdings Inc. now owns 8,869 shares of the investment management company’s stock valued at $132,000 after buying an additional 2,395 shares in the last quarter. Finally, Elequin Securities LLC purchased a new stake in shares of The India Fund during the 4th quarter valued at about $143,000. Institutional investors own 11.92% of the company’s stock.

The India Fund Company Profile

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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.