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

The India Fund, Inc. (NYSE:IFN) shares passed below its two hundred day moving average during trading on Monday . The stock has a two hundred 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 changing hands.

The India Fund Stock Performance

The firm has a 50 day moving average of $15.64 and a 200-day moving average of $17.02.

The India Fund Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 21st will be paid a dividend of $0.46 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $1.84 annualized dividend and a yield of 12.40%.

Hedge Funds Weigh In On The India Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pettinga Financial Advisors LLC bought a new position in The India Fund during the fourth quarter valued at about $418,000. Elequin Capital LP bought a new stake in shares of The India Fund in the 4th quarter valued at approximately $143,000. CSS LLC IL bought a new stake in shares of The India Fund in the 4th quarter valued at approximately $238,000. Waverly Advisors LLC bought a new stake in shares of The India Fund in the 4th quarter valued at approximately $185,000. Finally, Quantedge Capital Pte Ltd bought a new stake in shares of The India Fund in the 4th quarter valued at approximately $443,000. 10.76% of the stock is currently owned by institutional investors.

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.