India Fund (NYSE:IFN) Share Price Crosses Above 50 Day Moving Average – Here’s Why

India Fund, Inc. (NYSE:IFN) crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $11.47 and traded as high as $11.56. India Fund shares last traded at $11.4550, with a volume of 138,436 shares changing hands.

India Fund Trading Down 1.6%

The stock’s fifty day simple moving average is $11.47 and its 200 day simple moving average is $12.43.

India Fund Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Thursday, May 21st were paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 13.6%. The ex-dividend date was Thursday, May 21st.

Hedge Funds Weigh In On India Fund

A number of institutional investors have recently bought and sold shares of IFN. Decision Investments Inc. bought a new stake in India Fund during the first quarter valued at about $178,000. Virtu Financial LLC bought a new position in shares of India Fund in the fourth quarter worth about $229,000. EP Wealth Advisors LLC purchased a new position in shares of India Fund during the 4th quarter valued at about $809,000. NewEdge Advisors LLC lifted its position in shares of 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 buying an additional 1,939 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in shares of India Fund during the 4th quarter valued at approximately $666,000. 10.76% of the stock is 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.