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

The India Fund, Inc. (NYSE:IFN) gapped down prior to trading 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 Up 0.2 %

The stock has a fifty day moving average of $20.06 and a 200-day moving average of $18.54.

The India Fund Increases Dividend

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

Hedge Funds Weigh In On The India Fund

A number of hedge funds have recently modified their holdings of the stock. Raymond James & Associates grew its holdings in shares of The India Fund by 3.2% during the first 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 in the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings 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 in the last quarter. Cibc World Market Inc. grew its holdings 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 in the last quarter. Lazard Asset Management LLC grew its holdings 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 in the last quarter. Finally, UBS Group AG grew its holdings 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 in the last quarter. 10.76% of the stock is currently owned by institutional investors and hedge funds.

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.