Shares of India Fund, Inc. (NYSE:IFN – Get Free Report) passed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $11.41 and traded as low as $10.40. India Fund shares last traded at $10.5160, with a volume of 212,230 shares changing hands.
India Fund Trading Down 1.2%
The business’s 50-day simple moving average is $11.09 and its two-hundred day simple moving average is $11.40.
India Fund Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Monday, August 24th were given a $0.37 dividend. The ex-dividend date was Monday, August 24th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 14.1%.
Institutional Investors Weigh In On India Fund
Institutional investors have recently modified their holdings of the company. Rivernorth Capital Management LLC bought a new position in India Fund during the second quarter worth $986,000. Readystate Asset Management LP acquired a new position in India Fund in the second quarter valued at $405,000. Decision Investments Inc. acquired a new position in India Fund in the first quarter valued at $178,000. Cooper Financial Group acquired a new position in India Fund in the third quarter valued at $142,000. Finally, Succession Financial Inc. acquired a new position in India Fund in the second quarter valued at $125,000. 10.76% of the stock is owned by institutional investors.
About India Fund
The India Fund, Inc (NYSE: IFN) is a non-diversified closed-end investment company focused on providing investors with exposure to India’s equity markets. The fund seeks long-term capital appreciation by investing primarily in the publicly traded equity securities of Indian companies.
Its portfolio may include common stocks and other equity-related investments issued by companies based in India, as well as securities listed outside India that provide exposure to Indian businesses. The fund’s investments span multiple industries and sectors within the Indian economy, rather than focusing on a single line of business.
The India Fund began operations in 1994 and is managed by abrdn Asia Limited, part of the global investment management firm abrdn.
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