India Fund (NYSE:IFN) Shares Cross Below 200 Day Moving Average – Here’s What Happened

Shares of India Fund, Inc. (NYSE:IFN) crossed 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 changing hands.

India Fund Stock Performance

The stock’s 50 day moving average is $11.42 and its two-hundred day moving average is $12.33.

India Fund Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Thursday, May 21st were issued a dividend of $0.39 per share. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $1.56 dividend on an annualized basis and a dividend yield of 13.6%.

Institutional Trading of India Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in IFN. Advisory Services Network LLC acquired a new stake in India Fund during the 3rd quarter worth approximately $26,000. International Assets Investment Management LLC purchased a new stake in shares of India Fund during the fourth quarter worth approximately $34,000. TrueMark Investments LLC purchased a new stake in shares of India Fund during the fourth quarter worth approximately $137,000. Baker Ellis Asset Management LLC acquired a new stake in shares of India Fund during the fourth quarter worth $165,000. Finally, Decision Investments Inc. acquired a new stake in shares of India Fund during the first quarter worth $178,000. 10.76% of the stock is owned by hedge funds and other institutional investors.

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.