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

The India Fund, Inc. (NYSE:IFN) shares 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 traded.

The India Fund Stock Performance

The firm’s 50 day simple moving average is $20.15 and its 200-day simple moving average is $18.55.

The India Fund Increases Dividend

The firm also recently disclosed 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 an increase from The India Fund’s previous quarterly dividend of $0.41. This represents a $1.72 annualized dividend and a yield of 9.84%. The ex-dividend date was Wednesday, February 21st.

Institutional Investors Weigh In On The India Fund

Several institutional investors have recently bought and sold shares of the business. Atria Wealth Solutions Inc. boosted its stake in shares of The India Fund by 33.4% in 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 purchasing an additional 53,907 shares during the period. Koshinski Asset Management Inc. boosted its stake in shares of The India Fund by 104.9% in the fourth quarter. Koshinski Asset Management Inc. now owns 44,315 shares of the investment management company’s stock valued at $811,000 after purchasing an additional 22,687 shares during the period. Oppenheimer & Co. Inc. boosted its stake in The India Fund by 65.3% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 28,636 shares of the investment management company’s stock valued at $499,000 after acquiring an additional 11,311 shares during the last quarter. Schnieders Capital Management LLC boosted its stake in The India Fund by 27.7% during the 3rd quarter. Schnieders Capital Management LLC now owns 24,059 shares of the investment management company’s stock valued at $419,000 after acquiring an additional 5,220 shares during the last quarter. Finally, Sunesis Advisors LLC bought a new position in The India Fund during the 3rd quarter valued at $211,000. 10.76% of the stock is currently owned by hedge funds and other institutional investors.

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.