India Fund (NYSE:IFN) Stock Price Passes Below 200 Day Moving Average – What’s Next?

India Fund, Inc. (NYSE:IFN) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-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.

India Fund Price Performance

The company’s 50-day simple moving average is $12.42 and its 200-day simple moving average is $13.69.

India Fund Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Friday, February 20th were given a dividend of $0.906 per share. This represents a $3.62 dividend on an annualized basis and a dividend yield of 29.8%. The ex-dividend date of this dividend was Friday, February 20th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. City of London Investment Management Co. Ltd. bought a new position in shares of India Fund during the third quarter worth about $12,167,000. Cetera Investment Advisers raised its stake in India Fund by 4.5% during the fourth quarter. Cetera Investment Advisers now owns 563,066 shares of the investment management company’s stock valued at $7,720,000 after buying an additional 24,464 shares in the last quarter. Raymond James Financial Inc. lifted its holdings in India Fund by 1.4% during the 3rd quarter. Raymond James Financial Inc. now owns 525,157 shares of the investment management company’s stock worth $7,694,000 after buying an additional 7,461 shares during the last quarter. UBS Group AG grew its position in shares of India Fund by 4.2% in the 3rd quarter. UBS Group AG now owns 247,317 shares of the investment management company’s stock worth $3,623,000 after acquiring an additional 10,013 shares in the last quarter. Finally, Lazard Asset Management LLC increased its holdings in shares of India Fund by 2.3% in the 4th quarter. Lazard Asset Management LLC now owns 221,669 shares of the investment management company’s stock valued at $3,039,000 after acquiring an additional 4,904 shares during the last quarter. Hedge funds and other institutional investors 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.