The India Fund (NYSE:IFN) Shares Gap Down to $18.41

The India Fund, Inc. (NYSE:IFN) gapped down before the market opened on Wednesday . The stock had previously closed at $18.41, but opened at $18.01. The India Fund shares last traded at $17.35, with a volume of 637,921 shares.

The India Fund Trading Up 0.2 %

The business’s 50 day simple moving average is $20.06 and its 200 day simple moving average is $18.54.

The India Fund Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, February 22nd were paid a dividend of $0.43 per share. This is a boost from The India Fund’s previous quarterly dividend of $0.41. The ex-dividend date was Wednesday, February 21st. This represents a $1.72 dividend on an annualized basis and a yield of 9.75%.

Institutional Investors Weigh In On The India Fund

Several institutional investors and hedge funds have recently modified their holdings of IFN. Morgan Stanley raised its position in shares of The India Fund by 15.5% during the third quarter. Morgan Stanley now owns 1,084,797 shares of the investment management company’s stock valued at $18,897,000 after buying an additional 145,590 shares during the last quarter. Royal Bank of Canada raised its position in shares of The India Fund by 55.2% during the fourth quarter. Royal Bank of Canada now owns 178,481 shares of the investment management company’s stock valued at $3,265,000 after buying an additional 63,497 shares during the last quarter. Atria Wealth Solutions Inc. raised its position in shares of The India Fund by 33.4% during the third quarter. Atria Wealth Solutions Inc. now owns 215,380 shares of the investment management company’s stock valued at $3,752,000 after buying an additional 53,907 shares during the last quarter. Imprint Wealth LLC bought a new stake in shares of The India Fund during the second quarter valued at approximately $5,104,000. Finally, International Assets Investment Management LLC bought a new stake in shares of The India Fund during the fourth quarter valued at approximately $669,000. Institutional investors own 10.76% of the company’s stock.

About The India Fund

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.