India Fund (NYSE:IFN) Share Price Passes Below 200-Day Moving Average – Here’s What Happened

India Fund, Inc. (NYSE:IFN – Get Free Report)’s stock price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $11.64 and traded as low as $10.83. India Fund shares last traded at $10.9050, with a volume of 286,560 shares changing hands.

India Fund Price Performance

The stock’s 50-day simple moving average is $11.55 and its two-hundred day simple moving average is $11.62.

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India Fund Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Monday, August 24th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 13.5%. The ex-dividend date of this dividend is Monday, August 24th.

Hedge Funds Weigh In On India Fund

A number of hedge funds and other institutional investors have recently modified their holdings of IFN. Rivernorth Capital Management LLC bought a new stake in India Fund in the 2nd quarter valued at $986,000. Waverly Advisors LLC boosted its holdings in shares of India Fund by 7.4% during the 2nd quarter. Waverly Advisors LLC now owns 16,058 shares of the investment management company’s stock valued at $189,000 after purchasing an additional 1,112 shares during the last quarter. Readystate Asset Management LP bought a new position in shares of India Fund during the 2nd quarter valued at about $405,000. Succession Financial Inc. purchased a new position in shares of India Fund during the second quarter valued at about $125,000. Finally, Decision Investments Inc. purchased a new position in shares of India Fund during the first quarter valued at about $178,000. Institutional investors own 10.76% of the company’s stock.

About India Fund

(Get Free Report)

The India Fund, Inc (NYSE: IFN) is a publicly traded closed-end investment company focused on providing investors with exposure to India’s equity markets. The fund seeks long-term capital appreciation by investing primarily in securities of Indian companies.

Its portfolio may include publicly traded shares and other equity-related investments across a range of Indian industries, such as financial services, information technology, consumer goods, health care, industrials and energy. Through this diversified approach, the fund offers U.S.-listed access to companies operating in India and to the broader development of the Indian economy.

The India Fund was established in 1994 and is managed by abrdn Asia Limited, an investment manager specializing in Asian markets.

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