India Fund (NYSE:IFN) Shares Cross Below Two Hundred Day Moving Average – Here’s Why

India Fund, Inc. (NYSE:IFN)’s share price passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred 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.

India Fund Stock Performance

The company’s fifty day moving average price is $11.41 and its two-hundred day moving average price is $12.33.

India Fund Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Thursday, May 21st were given a dividend of $0.39 per share. The ex-dividend date was Thursday, May 21st. This represents a $1.56 dividend on an annualized basis and a yield of 13.5%.

Hedge Funds Weigh In On India Fund

Institutional investors have recently bought and sold shares of the business. Advocate Investing Services LLC acquired a new position in India Fund during the fourth quarter valued at approximately $1,001,000. Lazard Asset Management LLC raised its holdings in India Fund by 64.9% in the second quarter. Lazard Asset Management LLC now owns 176,157 shares of the investment management company’s stock worth $2,911,000 after purchasing an additional 69,338 shares during the period. EP Wealth Advisors LLC bought a new position in shares of India Fund during the fourth quarter worth $809,000. Wolverine Asset Management LLC boosted its position in shares of India Fund by 1,663.0% during the fourth quarter. Wolverine Asset Management LLC now owns 58,830 shares of the investment management company’s stock worth $807,000 after purchasing an additional 55,493 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of India Fund in the 4th quarter valued at $666,000. Institutional investors own 10.76% of the company’s stock.

India Fund Company Profile

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.