India Fund (NYSE:IFN) Stock Crosses Below 200-Day Moving Average – Here’s Why

India Fund, Inc. (NYSE:IFN)’s stock price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $14.58 and traded as low as $14.01. India Fund shares last traded at $14.0290, with a volume of 231,951 shares changing hands.

India Fund Trading Down 0.4%

The stock’s 50-day simple moving average is $13.88 and its two-hundred day simple moving average is $14.58.

India Fund Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, February 20th will be paid a dividend of $0.906 per share. The ex-dividend date is Friday, February 20th. This represents a $3.62 annualized dividend and a yield of 25.8%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of IFN. Advisory Services Network LLC acquired a new stake in shares of India Fund in the third quarter worth $26,000. Colonial Trust Advisors bought a new stake in India Fund in the 2nd quarter valued at $31,000. International Assets Investment Management LLC acquired a new stake in India Fund in the 4th quarter worth $34,000. Wolverine Asset Management LLC bought a new position in shares of India Fund during the 3rd quarter worth about $49,000. Finally, Allworth Financial LP acquired a new position in shares of India Fund during the second quarter valued at about $65,000. 10.76% of the stock is currently owned by institutional investors and hedge funds.

India Fund Company Profile

The India Fund, Inc (NYSE: IFN) is a closed-end management investment company incorporated in Maryland. It seeks to provide shareholders with long-term growth of capital, as well as current income. The fund trades on the New York Stock Exchange and offers investors access to equity markets in India through a diversified portfolio of Indian companies.

IFN invests primarily in equity securities of companies organized or domiciled in India, including common stocks, depositary receipts and other equity-related instruments.