India Fund (NYSE:IFN) Stock Passes 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 Friday . The stock has a 200-day moving average of $12.74 and traded as low as $10.90. India Fund shares last traded at $10.9950, with a volume of 152,104 shares trading hands.

India Fund Price Performance

The stock has a 50-day moving average of $11.54 and a 200-day moving average of $12.74.

India Fund Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Thursday, May 21st will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, May 21st. This represents a $1.56 annualized dividend and a dividend yield of 14.2%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in IFN. City of London Investment Management Co. Ltd. acquired a new position in shares of India Fund during the 3rd quarter worth approximately $12,167,000. Advocate Investing Services LLC acquired a new position in shares of India Fund during the 4th quarter worth approximately $1,001,000. Lazard Asset Management LLC increased its position in shares of 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 purchasing an additional 69,338 shares during the last quarter. EP Wealth Advisors LLC acquired a new position in shares of India Fund during the 4th quarter worth approximately $809,000. Finally, Wolverine Asset Management LLC increased its position in shares of 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 purchasing 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.