India Fund (NYSE:IFN) Stock Crosses Below 200 Day Moving Average – Here’s Why

India Fund, Inc. (NYSE:IFN)’s stock price crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $13.69 and traded as low as $11.96. India Fund shares last traded at $12.1550, with a volume of 125,528 shares trading hands.

India Fund Price Performance

The company’s 50 day moving average is $12.39 and its 200 day moving average is $13.68.

India Fund Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Friday, February 20th were issued a $0.906 dividend. This represents a $3.62 dividend on an annualized basis and a yield of 29.3%. The ex-dividend date of this dividend was Friday, February 20th.

Hedge Funds Weigh In On India Fund

A number of institutional investors and hedge funds have recently bought and sold shares of IFN. City of London Investment Management Co. Ltd. acquired a new position in India Fund in the 3rd quarter worth about $12,167,000. Advocate Investing Services LLC bought a new stake in India Fund during the 4th quarter worth approximately $1,001,000. Lazard Asset Management LLC grew its holdings 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 during the last quarter. EP Wealth Advisors LLC bought a new stake in India Fund during the 4th quarter worth approximately $809,000. Finally, Wolverine Asset Management LLC grew its holdings 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 acquiring an additional 55,493 shares during the last quarter. Institutional investors and hedge funds own 10.76% of the company’s stock.

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.