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

India Fund, Inc. (NYSE:IFN)’s share price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-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 Price Performance

The stock’s 50-day moving average is $11.64 and its 200 day moving average is $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 issued 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 yield of 13.9%.

Institutional Trading of India Fund

Large investors have recently bought and sold shares of the company. Focus Partners Wealth increased its position in shares of India Fund by 14.4% in the first quarter. Focus Partners Wealth now owns 50,510 shares of the investment management company’s stock valued at $797,000 after buying an additional 6,363 shares in the last quarter. Schnieders Capital Management LLC. grew its stake in India Fund by 14.0% in the 2nd quarter. Schnieders Capital Management LLC. now owns 32,672 shares of the investment management company’s stock valued at $540,000 after acquiring an additional 4,001 shares during the last quarter. NewEdge Advisors LLC grew its stake in India Fund by 39.8% in the 2nd quarter. NewEdge Advisors LLC now owns 16,665 shares of the investment management company’s stock valued at $275,000 after acquiring an additional 4,748 shares during the last quarter. Lazard Asset Management LLC increased its holdings 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 valued at $2,911,000 after acquiring an additional 69,338 shares in the last quarter. Finally, Osaic Holdings Inc. increased its holdings in India Fund by 4.9% during 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 in 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.