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

The India Fund, Inc. (NYSE:IFN) shares crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $17.38 and traded as low as $15.66. The India Fund shares last traded at $15.71, with a volume of 197,298 shares trading hands.

The India Fund Trading Down 0.4 %

The business has a 50-day moving average of $16.05 and a 200-day moving average of $17.38.

The India Fund Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 21st will be given a $0.46 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $1.84 dividend on an annualized basis and a dividend yield of 11.71%.

Institutional Trading of The India Fund

A number of institutional investors and hedge funds have recently made changes to their positions in IFN. Raymond James Financial Inc. acquired a new stake in shares of The India Fund in the fourth quarter worth about $7,484,000. Penserra Capital Management LLC acquired a new stake in shares of The India Fund in the third quarter worth about $4,794,000. Rivernorth Capital Management LLC acquired a new stake in shares of The India Fund in the third quarter worth about $3,540,000. Janney Montgomery Scott LLC acquired a new stake in shares of The India Fund in the fourth quarter worth about $2,722,000. Finally, Landscape Capital Management L.L.C. lifted its position in shares of The India Fund by 25.3% in the third quarter. Landscape Capital Management L.L.C. now owns 715,745 shares of the investment management company’s stock worth $13,613,000 after buying an additional 144,609 shares during the last quarter. Institutional investors and hedge funds 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.