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 Thursday . The stock has a 200-day moving average of $12.90 and traded as low as $10.81. India Fund shares last traded at $10.9250, with a volume of 291,009 shares trading hands.

India Fund Price Performance

The firm has a 50-day simple moving average of $11.58 and a 200 day simple moving average of $12.90.

India Fund Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Thursday, May 21st will be given a $0.39 dividend. The ex-dividend date is Thursday, May 21st. This represents a $1.56 annualized dividend and a yield of 14.3%.

Hedge Funds Weigh In On India Fund

Large investors have recently bought and sold shares of the company. Advisory Services Network LLC bought a new position in India Fund in the third quarter valued at about $26,000. International Assets Investment Management LLC bought a new position in India Fund in the fourth quarter valued at about $34,000. TrueMark Investments LLC bought a new position in India Fund in the fourth quarter valued at about $137,000. Baker Ellis Asset Management LLC bought a new position in India Fund in the fourth quarter valued at about $165,000. Finally, Millennium Management LLC bought a new position in India Fund in the third quarter valued at about $198,000. 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.