The India Fund (NYSE:IFN) Share Price Crosses Below Two Hundred Day Moving Average of $17.73

The India Fund, Inc. (NYSE:IFNGet Rating) shares passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $17.73 and traded as low as $17.39. The India Fund shares last traded at $17.44, with a volume of 45,383 shares changing hands.

The India Fund Stock Down 0.7 %

The business has a fifty day moving average price of $17.43 and a two-hundred day moving average price of $17.73.

The India Fund Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Wednesday, August 24th will be issued a $0.46 dividend. The ex-dividend date of this dividend is Tuesday, August 23rd. This represents a $1.84 dividend on an annualized basis and a yield of 10.55%.

Hedge Funds Weigh In On The India Fund

Hedge funds have recently added to or reduced their stakes in the company. Saba Capital Management L.P. boosted its position in The India Fund by 3.2% during the fourth quarter. Saba Capital Management L.P. now owns 341,587 shares of the investment management company’s stock worth $7,207,000 after purchasing an additional 10,524 shares during the period. Bank of America Corp DE boosted its position in The India Fund by 3.2% during the fourth quarter. Bank of America Corp DE now owns 240,721 shares of the investment management company’s stock worth $5,079,000 after purchasing an additional 7,487 shares during the period. Colony Group LLC boosted its position in The India Fund by 7.1% during the second quarter. Colony Group LLC now owns 32,788 shares of the investment management company’s stock worth $534,000 after purchasing an additional 2,165 shares during the period. Raymond James & Associates boosted its position in The India Fund by 3.2% during the first quarter. Raymond James & Associates now owns 24,022 shares of the investment management company’s stock worth $464,000 after purchasing an additional 744 shares during the period. Finally, SeaCrest Wealth Management LLC bought a new stake in shares of The India Fund in the second quarter valued at approximately $26,000. Institutional investors and hedge funds own 12.62% of the company’s stock.

About The India Fund

(Get Rating)

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.

See Also

Receive News & Ratings for The India Fund Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The India Fund and related companies with MarketBeat.com's FREE daily email newsletter.