India Fund (NYSE:IFN) Share Price Crosses 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 $14.51 and traded as low as $13.35. India Fund shares last traded at $13.37, with a volume of 111,514 shares.

India Fund Price Performance

The firm has a 50-day moving average of $13.86 and a 200-day moving average of $14.51.

India Fund Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders 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 dividend yield of 27.1%.

Institutional Investors Weigh In On India Fund

Large investors have recently bought and sold shares of the company. City of London Investment Management Co. Ltd. purchased a new position in India Fund during the 3rd quarter worth approximately $12,167,000. Advocate Investing Services LLC acquired a new position in India Fund during the fourth quarter valued at $1,001,000. Lazard Asset Management LLC boosted its holdings in India Fund by 64.9% in the second quarter. Lazard Asset Management LLC now owns 176,157 shares of the investment management company’s stock valued at $2,911,000 after purchasing an additional 69,338 shares during the last quarter. EP Wealth Advisors LLC purchased a new position in shares of India Fund during the 4th quarter valued at about $809,000. Finally, Wolverine Asset Management LLC raised its stake in shares of India Fund by 1,663.0% during the 4th quarter. Wolverine Asset Management LLC now owns 58,830 shares of the investment management company’s stock valued at $807,000 after buying an additional 55,493 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.