The India Fund (NYSE:IFN) Stock Crosses Below 200-Day Moving Average of $15.61

The India Fund, Inc. (NYSE:IFN – Get Rating)’s share price crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $15.61 and traded as low as $15.13. The India Fund shares last traded at $15.16, with a volume of 72,637 shares.

The India Fund Trading Up 1.3 %

The company’s 50-day moving average price is $15.29 and its two-hundred day moving average price is $15.61.

The India Fund Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, May 19th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 10.14%. The ex-dividend date is Thursday, May 18th.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Raymond James & Associates boosted its position in The India Fund by 3.2% during the 1st quarter. Raymond James & Associates now owns 24,022 shares of the investment management company’s stock valued at $464,000 after buying an additional 744 shares during the period. Raymond James Financial Services Advisors Inc. increased its stake in shares of The India Fund by 25.5% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 79,830 shares of the investment management company’s stock valued at $1,542,000 after buying an additional 16,242 shares during the period. Cibc World Market Inc. increased its stake in shares of The India Fund by 39.0% during the first quarter. Cibc World Market Inc. now owns 37,373 shares of the investment management company’s stock valued at $722,000 after buying an additional 10,490 shares during the period. Lazard Asset Management LLC increased its stake in shares of The India Fund by 0.3% during the first quarter. Lazard Asset Management LLC now owns 2,327,151 shares of the investment management company’s stock valued at $44,937,000 after buying an additional 6,351 shares during the period. Finally, UBS Group AG increased its stake in shares of The India Fund by 8.9% during the first quarter. UBS Group AG now owns 32,611 shares of the investment management company’s stock valued at $630,000 after buying an additional 2,671 shares during the period. Hedge funds and other institutional investors own 11.92% 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.