India Fund (NYSE:IFN) Stock Crosses Above Fifty Day Moving Average – What’s Next?

India Fund, Inc. (NYSE:IFN) crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $11.53 and traded as high as $11.76. India Fund shares last traded at $11.7550, with a volume of 122,131 shares.

India Fund Stock Down 0.5%

The firm’s fifty day moving average is $11.50 and its 200 day moving average is $12.49.

India Fund Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Thursday, May 21st were given a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 13.3%. The ex-dividend date of this dividend was Thursday, May 21st.

Hedge Funds Weigh In On India Fund

Institutional investors have recently made changes to their positions in the business. City of London Investment Management Co. Ltd. bought a new stake in India Fund during the 3rd quarter valued at approximately $12,167,000. Cetera Investment Advisers increased its position in India Fund by 4.5% in the 4th quarter. Cetera Investment Advisers now owns 563,066 shares of the investment management company’s stock worth $7,720,000 after buying an additional 24,464 shares during the period. Raymond James Financial Inc. lifted its holdings in shares of India Fund by 1.4% during the third quarter. Raymond James Financial Inc. now owns 525,157 shares of the investment management company’s stock worth $7,694,000 after buying an additional 7,461 shares during the last quarter. UBS Group AG lifted its holdings in shares of India Fund by 4.2% during the third quarter. UBS Group AG now owns 247,317 shares of the investment management company’s stock worth $3,623,000 after buying an additional 10,013 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its position in shares of India Fund by 2.3% in the fourth quarter. Lazard Asset Management LLC now owns 221,669 shares of the investment management company’s stock valued at $3,039,000 after acquiring an additional 4,904 shares during the period. 10.76% of the stock is currently owned by institutional investors.

About India Fund

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.