India Fund (NYSE:IFN) Stock Price Passes Below 200-Day Moving Average – Here’s What Happened

India Fund, Inc. (NYSE:IFN)’s stock 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 Stock Up 1.3%

The company has a 50 day moving average price of $11.54 and a 200 day moving average price of $12.74.

India Fund Dividend Announcement

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Advisory Services Network LLC purchased a new stake in shares of India Fund in the 3rd quarter valued at approximately $26,000. International Assets Investment Management LLC acquired a new position in shares of India Fund in the 4th quarter worth approximately $34,000. TrueMark Investments LLC purchased a new position in shares of India Fund during the 4th quarter worth approximately $137,000. Baker Ellis Asset Management LLC purchased a new position in shares of India Fund during the 4th quarter worth approximately $165,000. Finally, Decision Investments Inc. acquired a new stake in India Fund in the 1st quarter valued at approximately $178,000. Hedge funds and other institutional investors 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.