India Fund (NYSE:IFN) Shares Pass Below 200 Day Moving Average – What’s Next?

India Fund, Inc. (NYSE:IFN) crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $13.49 and traded as low as $11.80. India Fund shares last traded at $11.8150, with a volume of 171,392 shares changing hands.

India Fund Trading Down 1.5%

The firm has a fifty day simple moving average of $12.04 and a two-hundred day simple moving average of $13.49.

India Fund Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Friday, February 20th were issued a dividend of $0.906 per share. This represents a $3.62 annualized dividend and a yield of 30.7%. The ex-dividend date of this dividend was Friday, February 20th.

Hedge Funds Weigh In On India Fund

Several institutional investors and hedge funds have recently bought and sold shares of the company. Decision Investments Inc. bought a new position in India Fund during the first quarter valued at $178,000. Virtu Financial LLC bought a new position in India Fund during the fourth quarter valued at $229,000. EP Wealth Advisors LLC bought a new position in India Fund during the fourth quarter valued at $809,000. NewEdge Advisors LLC grew its holdings in India Fund by 11.7% during the fourth quarter. NewEdge Advisors LLC now owns 18,543 shares of the investment management company’s stock valued at $254,000 after purchasing an additional 1,939 shares during the period. Finally, XTX Topco Ltd bought a new position in India Fund during the fourth quarter valued at $666,000. 10.76% of the stock is owned by institutional investors.

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.