India Fund (NYSE:IFN) Share Price Passes Below 200 Day Moving Average – Here’s Why

India Fund, Inc. (NYSE:IFN)’s stock price passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $13.96 and traded as low as $10.95. India Fund shares last traded at $11.35, with a volume of 318,108 shares traded.

India Fund Stock Up 4.5%

The business has a fifty day moving average of $12.96 and a two-hundred day moving average of $13.96.

India Fund Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Friday, February 20th were issued a $0.906 dividend. The ex-dividend date of this dividend was Friday, February 20th. This represents a $3.62 annualized dividend and a yield of 31.9%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. one8zero8 LLC raised its stake in shares of India Fund by 5.4% during the 3rd quarter. one8zero8 LLC now owns 13,111 shares of the investment management company’s stock worth $192,000 after buying an additional 676 shares during the last quarter. Osaic Holdings Inc. grew its stake in India Fund by 4.9% in the 2nd quarter. Osaic Holdings Inc. now owns 30,304 shares of the investment management company’s stock valued at $501,000 after acquiring an additional 1,417 shares during the last quarter. Advisory Services Network LLC purchased a new position in India Fund during the 3rd quarter valued at about $26,000. NewEdge Advisors LLC increased its holdings in India Fund by 11.7% during the 4th quarter. NewEdge Advisors LLC now owns 18,543 shares of the investment management company’s stock valued at $254,000 after acquiring an additional 1,939 shares in the last quarter. Finally, Consolidated Portfolio Review Corp raised its position in India Fund by 2.1% during the third quarter. Consolidated Portfolio Review Corp now owns 121,534 shares of the investment management company’s stock worth $1,780,000 after acquiring an additional 2,445 shares during the last quarter. Institutional investors and hedge funds 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.