The India Fund (NYSE:IFN) Share Price Crosses Below 200-Day Moving Average – Here’s Why

The India Fund, Inc. (NYSE:IFN)’s stock price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $17.08 and traded as low as $14.57. The India Fund shares last traded at $14.60, with a volume of 204,624 shares.

The India Fund Price Performance

The business has a 50-day simple moving average of $15.64 and a two-hundred day simple moving average of $17.02.

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 is Friday, February 21st. This represents a $1.84 dividend on an annualized basis and a dividend yield of 12.40%.

Institutional Trading of The India Fund

Institutional investors and hedge funds have recently made changes to their positions in the stock. Landscape Capital Management L.L.C. lifted its position in shares of The India Fund by 25.3% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 715,745 shares of the investment management company’s stock worth $13,613,000 after purchasing an additional 144,609 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of The India Fund during the 4th quarter worth about $7,484,000. Cetera Investment Advisers lifted its position in shares of The India Fund by 2.5% during the 4th quarter. Cetera Investment Advisers now owns 434,258 shares of the investment management company’s stock worth $6,840,000 after purchasing an additional 10,587 shares during the last quarter. Penserra Capital Management LLC acquired a new position in shares of The India Fund during the 3rd quarter worth about $4,794,000. Finally, Rivernorth Capital Management LLC acquired a new position in shares of The India Fund during the 3rd quarter worth about $3,540,000. 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.