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

India Fund, Inc. (NYSE:IFN) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $15.28 and traded as low as $13.58. India Fund shares last traded at $13.61, with a volume of 340,286 shares trading hands.

India Fund Stock Down 0.4%

The firm has a 50 day moving average of $14.67 and a two-hundred day moving average of $15.28.

India Fund Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, February 20th will be given a $0.906 dividend. The ex-dividend date is Friday, February 20th. This represents a $3.62 dividend on an annualized basis and a dividend yield of 26.6%.

Institutional Investors Weigh In On India Fund

A number of large investors have recently added to or reduced their stakes in the business. Advisory Services Network LLC purchased a new position in India Fund during the 3rd quarter valued at about $26,000. Colonial Trust Advisors acquired a new stake in shares of India Fund in the second quarter valued at approximately $31,000. Wolverine Asset Management LLC purchased a new position in shares of India Fund during the 3rd quarter worth approximately $49,000. Allworth Financial LP acquired a new position in shares of India Fund during the 2nd quarter worth approximately $65,000. Finally, Aberdeen Group plc acquired a new position in shares of India Fund during the 1st quarter worth approximately $161,000. 10.76% of the stock is owned by institutional investors and hedge funds.

About 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.