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

India Fund, Inc. (NYSE:IFN)’s share price crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $12.24 and traded as low as $11.35. India Fund shares last traded at $11.4250, with a volume of 90,171 shares traded.

India Fund Stock Performance

The company has a 50 day moving average of $11.38 and a two-hundred day moving average of $12.24.

India Fund Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Thursday, May 21st were issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 13.7%. The ex-dividend date of this dividend was Thursday, May 21st.

Hedge Funds Weigh In On India Fund

Hedge funds have recently modified their holdings of the stock. Schnieders Capital Management LLC. raised its position in shares of 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 purchasing an additional 4,001 shares during the last quarter. Wolverine Asset Management LLC grew its position in India Fund by 1,663.0% during the 4th quarter. Wolverine Asset Management LLC now owns 58,830 shares of the investment management company’s stock worth $807,000 after purchasing an additional 55,493 shares during the last quarter. Bank of America Corp DE grew its position in India Fund by 54.6% during the 3rd quarter. Bank of America Corp DE now owns 49,527 shares of the investment management company’s stock worth $726,000 after purchasing an additional 17,482 shares during the last quarter. XTX Topco Ltd acquired a new position in India Fund during the 4th quarter valued at approximately $666,000. Finally, Composition Wealth LLC increased its stake in India Fund by 24.6% during the 4th quarter. Composition Wealth LLC now owns 18,750 shares of the investment management company’s stock valued at $257,000 after purchasing an additional 3,700 shares in the last quarter. Institutional investors and hedge funds own 10.76% of the company’s stock.

India Fund Company Profile

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.