The India Fund (NYSE:IFN) Sees Strong Trading Volume

Shares of The India Fund, Inc. (NYSE:IFN) saw an uptick in trading volume on Monday . 275,650 shares were traded during mid-day trading, an increase of 69% from the previous session’s volume of 163,579 shares.The stock last traded at $18.48 and had previously closed at $19.40.

The India Fund Stock Down 6.1 %

The stock has a fifty day moving average of $20.15 and a 200 day moving average of $18.55.

The India Fund Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, February 22nd were issued a dividend of $0.43 per share. The ex-dividend date of this dividend was Wednesday, February 21st. This is a boost from The India Fund’s previous quarterly dividend of $0.41. This represents a $1.72 dividend on an annualized basis and a yield of 9.95%.

Institutional Investors Weigh In On The India Fund

A number of institutional investors and hedge funds have recently bought and sold shares of the business. UBS Group AG grew its position in The India Fund by 2.0% in the third quarter. UBS Group AG now owns 32,379 shares of the investment management company’s stock worth $521,000 after acquiring an additional 632 shares in the last quarter. Raymond James & Associates grew its position in The India Fund by 3.2% in the first quarter. Raymond James & Associates now owns 24,022 shares of the investment management company’s stock worth $464,000 after acquiring an additional 744 shares in the last quarter. Creative Planning grew its position in The India Fund by 1.8% in the second quarter. Creative Planning now owns 56,460 shares of the investment management company’s stock worth $920,000 after acquiring an additional 1,006 shares in the last quarter. Commonwealth Equity Services LLC grew its position in The India Fund by 2.5% in the second quarter. Commonwealth Equity Services LLC now owns 45,968 shares of the investment management company’s stock worth $763,000 after acquiring an additional 1,112 shares in the last quarter. Finally, Schnieders Capital Management LLC grew its position in The India Fund by 5.4% in the fourth quarter. Schnieders Capital Management LLC now owns 25,359 shares of the investment management company’s stock worth $464,000 after acquiring an additional 1,300 shares in the last quarter. 10.76% of the stock is owned by institutional investors.

The India Fund Company Profile

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.