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

India Fund, Inc. (NYSE:IFN) shares crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $12.90 and traded as low as $10.81. India Fund shares last traded at $10.9250, with a volume of 291,009 shares trading hands.

India Fund Stock Performance

The company has a 50 day moving average of $11.57 and a 200 day moving average of $12.88.

India Fund Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Thursday, May 21st will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 14.5%. The ex-dividend date of this dividend is Thursday, May 21st.

Institutional Investors Weigh In On India Fund

A number of institutional investors and hedge funds have recently modified their holdings of IFN. Advisory Services Network LLC bought a new stake in shares of India Fund in the 3rd quarter valued at about $26,000. International Assets Investment Management LLC bought a new stake in shares of India Fund in the 4th quarter valued at about $34,000. TrueMark Investments LLC bought a new stake in shares of India Fund in the 4th quarter valued at about $137,000. Baker Ellis Asset Management LLC bought a new stake in shares of India Fund in the 4th quarter valued at about $165,000. Finally, Decision Investments Inc. bought a new stake in shares of India Fund in the 1st quarter valued at about $178,000. 10.76% of the stock is owned by institutional investors.

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.