India Fund (NYSE:IFN) Shares Pass Below Two Hundred Day Moving Average – Here’s What Happened

Shares of 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 changing hands.

India Fund Price Performance

The stock has a fifty day simple moving average of $13.86 and a 200-day simple moving average of $14.51.

India Fund Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, February 20th will be issued a dividend of $0.906 per share. The ex-dividend date of this dividend is Friday, February 20th. This represents a $3.62 dividend on an annualized basis and a yield of 27.1%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Advisory Services Network LLC acquired a new stake in shares of India Fund during the 3rd quarter valued at about $26,000. Colonial Trust Advisors acquired a new stake in India Fund in the second quarter valued at approximately $31,000. International Assets Investment Management LLC purchased a new stake in shares of India Fund in the fourth quarter valued at approximately $34,000. Wolverine Asset Management LLC acquired a new position in shares of India Fund during the 3rd quarter worth approximately $49,000. Finally, Allworth Financial LP acquired a new stake in India Fund in the 2nd quarter valued at $65,000. 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.