India Fund (NYSE:IFN) Stock Price Passes Below Two Hundred Day Moving Average – What’s Next?

India Fund, Inc. (NYSE:IFNGet Free Report) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $12.05 and traded as low as $11.82. India Fund shares last traded at $11.9030, with a volume of 170,969 shares trading hands.

India Fund Trading Down 0.7%

The company has a 50 day moving average of $11.51 and a 200-day moving average of $12.03.

India Fund Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Monday, August 24th will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 12.5%. The ex-dividend date of this dividend is Monday, August 24th.

Institutional Investors Weigh In On India Fund

Several large investors have recently added to or reduced their stakes in IFN. Advocate Investing Services LLC purchased a new position in shares of India Fund in the 4th quarter valued at $1,001,000. Lazard Asset Management LLC raised its stake 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 worth $2,911,000 after acquiring an additional 69,338 shares in the last quarter. EP Wealth Advisors LLC purchased a new stake in India Fund in the fourth quarter valued at $809,000. Wolverine Asset Management LLC lifted its position in India Fund by 1,663.0% in the fourth quarter. Wolverine Asset Management LLC now owns 58,830 shares of the investment management company’s stock valued at $807,000 after acquiring an additional 55,493 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in India Fund in the fourth quarter valued at $666,000. 10.76% of the stock is owned by hedge funds and other institutional investors.

India Fund Company Profile

(Get Free Report)

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.

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