India Fund (NYSE:IFN) Shares Cross Below 200 Day Moving Average – Here’s What Happened

India Fund, Inc. (NYSE:IFN)’s share price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $12.33 and traded as low as $11.49. India Fund shares last traded at $11.51, with a volume of 78,137 shares trading hands.

India Fund Trading Down 0.3%

The business’s fifty day simple moving average is $11.42 and its two-hundred day simple moving average is $12.33.

India Fund Announces Dividend

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

Institutional Investors Weigh In On India Fund

Several hedge funds and other institutional investors have recently bought and sold shares of IFN. Advocate Investing Services LLC acquired a new stake in shares of India Fund during the fourth quarter worth about $1,001,000. Lazard Asset Management LLC boosted its position in shares of India Fund by 64.9% in 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 purchasing an additional 69,338 shares during the period. EP Wealth Advisors LLC purchased a new position in India Fund during the 4th quarter worth approximately $809,000. Wolverine Asset Management LLC grew its stake 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 buying an additional 55,493 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in India Fund during the fourth quarter worth approximately $666,000. 10.76% of the stock is currently owned by institutional investors and hedge funds.

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.