India Fund (NYSE:IFN) Stock Crosses Below 200-Day Moving Average – Here’s Why

India Fund, Inc. (NYSE:IFN)’s stock price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $14.58 and traded as low as $14.01. India Fund shares last traded at $14.0290, with a volume of 231,951 shares traded.

India Fund Price Performance

The stock’s 50 day simple moving average is $13.88 and its 200-day simple moving average is $14.58.

India Fund Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, February 20th will be issued a $0.906 dividend. The ex-dividend date is Friday, February 20th. This represents a $3.62 dividend on an annualized basis and a yield of 25.8%.

Institutional Trading of India Fund

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Penserra Capital Management LLC increased its holdings in shares of India Fund by 3.0% during the 2nd quarter. Penserra Capital Management LLC now owns 1,002,545 shares of the investment management company’s stock valued at $16,572,000 after acquiring an additional 29,609 shares during the last quarter. City of London Investment Management Co. Ltd. bought a new stake in India Fund during the third quarter worth approximately $12,167,000. Cetera Investment Advisers grew its holdings 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 purchasing an additional 24,464 shares during the last quarter. Raymond James Financial Inc. raised its position in shares of India Fund by 1.4% in the third quarter. Raymond James Financial Inc. now owns 525,157 shares of the investment management company’s stock valued at $7,694,000 after purchasing an additional 7,461 shares during the period. Finally, UBS Group AG lifted its stake in shares of India Fund by 4.2% in the third quarter. UBS Group AG now owns 247,317 shares of the investment management company’s stock worth $3,623,000 after buying an additional 10,013 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.