India Fund (NYSE:IFN) Stock Price Crosses Below Two Hundred Day Moving Average – Here’s What Happened

India Fund, Inc. (NYSE:IFN) passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $11.87 and traded as low as $11.45. India Fund shares last traded at $11.4770, with a volume of 131,621 shares trading hands.

India Fund Trading Down 0.2%

The business’s 50-day simple moving average is $11.64 and its 200-day simple moving average is $11.86.

India Fund Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Monday, August 24th will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 12.9%. The ex-dividend date of this dividend is Monday, August 24th.

Institutional Investors Weigh In On India Fund

A number of institutional investors and hedge funds have recently bought and sold shares of IFN. Rivernorth Capital Management LLC purchased a new position in India Fund during the second quarter worth $986,000. Advocate Investing Services LLC purchased a new stake in India Fund during the 4th quarter worth about $1,001,000. Lazard Asset Management LLC increased its position in India Fund by 64.9% during the 2nd quarter. Lazard Asset Management LLC now owns 176,157 shares of the investment management company’s stock worth $2,911,000 after purchasing an additional 69,338 shares in the last quarter. EP Wealth Advisors LLC acquired a new position in India Fund in the 4th quarter valued at about $809,000. Finally, Wolverine Asset Management LLC lifted its holdings in India Fund by 1,663.0% in the 4th quarter. Wolverine Asset Management LLC now owns 58,830 shares of the investment management company’s stock valued at $807,000 after purchasing an additional 55,493 shares in the last quarter. Hedge funds and other institutional investors own 10.76% of the company’s stock.

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.