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

India Fund, Inc. (NYSE:IFN)’s share price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $14.77 and traded as low as $13.56. India Fund shares last traded at $13.68, with a volume of 230,969 shares trading hands.

India Fund Price Performance

The firm’s 50-day moving average price is $13.88 and its two-hundred day moving average price is $14.75.

India Fund Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, February 20th will be issued a $0.906 dividend. The ex-dividend date of this dividend is Friday, February 20th. This represents a $3.62 dividend on an annualized basis and a yield of 26.6%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Focus Partners Wealth increased its stake in shares of India Fund by 14.4% in the 1st quarter. Focus Partners Wealth now owns 50,510 shares of the investment management company’s stock worth $797,000 after acquiring an additional 6,363 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in India Fund by 30.5% during the second quarter. Public Employees Retirement System of Ohio now owns 59,908 shares of the investment management company’s stock worth $990,000 after purchasing an additional 14,000 shares during the last quarter. Robertson Stephens Wealth Management LLC increased its position in India Fund by 8.8% during the second quarter. Robertson Stephens Wealth Management LLC now owns 30,850 shares of the investment management company’s stock worth $510,000 after purchasing an additional 2,500 shares during the last quarter. Schnieders Capital Management LLC. raised its stake in India Fund by 14.0% during the second quarter. Schnieders Capital Management LLC. now owns 32,672 shares of the investment management company’s stock worth $540,000 after purchasing an additional 4,001 shares during the period. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in shares of India Fund in the 2nd quarter valued at approximately $222,000. Institutional investors and hedge funds 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.