The India Fund (NYSE:IFN) Shares Gap Down to $17.68

The India Fund, Inc. (NYSE:IFNGet Free Report)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $17.68, but opened at $16.80. The India Fund shares last traded at $16.79, with a volume of 233,809 shares traded.

The India Fund Stock Performance

The company’s 50-day simple moving average is $18.48 and its 200 day simple moving average is $18.82.

The India Fund Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Thursday, May 30th will be given a dividend of $0.45 per share. The ex-dividend date is Thursday, May 30th. This represents a $1.80 annualized dividend and a yield of 10.48%. This is a positive change from The India Fund’s previous quarterly dividend of $0.43.

Hedge Funds Weigh In On The India Fund

Several institutional investors have recently bought and sold shares of IFN. National Bank of Canada FI lifted its position in The India Fund by 233.3% during the fourth quarter. National Bank of Canada FI now owns 2,000 shares of the investment management company’s stock valued at $37,000 after purchasing an additional 1,400 shares during the last quarter. Avantax Advisory Services Inc. purchased a new stake in shares of The India Fund in the third quarter valued at $212,000. Western Wealth Management LLC purchased a new stake in shares of The India Fund in the fourth quarter valued at $215,000. Focus Financial Network Inc. ADV purchased a new stake in shares of The India Fund in the fourth quarter valued at $238,000. Finally, American Institute for Advanced Investment Management LLP purchased a new stake in shares of The India Fund in the fourth quarter valued at $245,000. Institutional investors own 10.76% of the company’s stock.

About The India Fund

(Get Free Report)

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.

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