India Fund (NYSE:IFN) Share Price Crosses Below Two Hundred Day Moving Average – What’s Next?

India Fund, Inc. (NYSE:IFN)’s stock price crossed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $11.48 and traded as low as $10.45. India Fund shares last traded at $10.46, with a volume of 397,678 shares changing hands.

India Fund Stock Performance

The stock’s 50-day moving average is $11.39 and its 200-day moving average is $11.48.

India Fund Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Monday, August 24th were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 14.1%. The ex-dividend date of this dividend was Monday, August 24th.

Institutional Investors Weigh In On India Fund

Hedge funds and other institutional investors have recently made changes to their positions in the business. Waverly Advisors LLC lifted its position in India Fund by 7.4% during the second quarter. Waverly Advisors LLC now owns 16,058 shares of the investment management company’s stock worth $189,000 after buying an additional 1,112 shares during the period. Readystate Asset Management LP purchased a new stake in India Fund in the 2nd quarter valued at about $405,000. Succession Financial Inc. purchased a new stake in India Fund in the 2nd quarter valued at about $125,000. Rivernorth Capital Management LLC acquired a new position in shares of India Fund during the 2nd quarter valued at about $986,000. Finally, Decision Investments Inc. acquired a new position in shares of India Fund during the 1st quarter valued at about $178,000. 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 publicly traded closed-end investment company focused on providing investors with exposure to India’s equity markets. The fund seeks long-term capital appreciation by investing primarily in securities of Indian companies.

Its portfolio may include publicly traded shares and other equity-related investments across a range of Indian industries, such as financial services, information technology, consumer goods, health care, industrials and energy. Through this diversified approach, the fund offers U.S.-listed access to companies operating in India and to the broader development of the Indian economy.

The India Fund was established in 1994 and is managed by abrdn Asia Limited, an investment manager specializing in Asian markets.