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

India Fund, Inc. (NYSE:IFN) shares crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $13.07 and traded as low as $11.19. India Fund shares last traded at $11.20, with a volume of 141,623 shares traded.

India Fund Stock Down 0.5%

The business has a 50 day moving average of $11.64 and a 200-day moving average of $13.07.

India Fund Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Thursday, May 21st will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, May 21st. This represents a $1.56 dividend on an annualized basis and a dividend yield of 13.9%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Advisory Services Network LLC acquired a new position in shares of India Fund in the third quarter valued at approximately $26,000. International Assets Investment Management LLC acquired a new stake in India Fund during the fourth quarter worth approximately $34,000. TrueMark Investments LLC purchased a new stake in India Fund in the 4th quarter worth approximately $137,000. Baker Ellis Asset Management LLC purchased a new stake in India Fund in the 4th quarter worth approximately $165,000. Finally, one8zero8 LLC raised its holdings in India Fund by 5.4% in the 3rd quarter. one8zero8 LLC now owns 13,111 shares of the investment management company’s stock valued at $192,000 after acquiring an additional 676 shares during the last quarter. 10.76% of the stock is currently owned by hedge funds and other 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.