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

by · The Markets Daily

India Fund, Inc. (NYSE:IFN – Get Free Report)’s stock price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $11.97 and traded as low as $11.80. India Fund shares last traded at $11.84, with a volume of 87,822 shares traded.

India Fund Stock Performance

The business’s 50 day simple moving average is $11.63 and its two-hundred day simple moving average is $11.95.

India Fund Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Monday, August 24th will be issued a $0.37 dividend. The ex-dividend date of this dividend is Monday, August 24th. This represents a $1.48 annualized dividend and a dividend yield of 12.5%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Rivernorth Capital Management LLC purchased a new position in India Fund in the second quarter worth about $986,000. Decision Investments Inc. purchased a new stake in shares of India Fund during the 1st quarter valued at about $178,000. Virtu Financial LLC purchased a new stake in shares of India Fund during the 4th quarter valued at about $229,000. EP Wealth Advisors LLC purchased a new stake in shares of India Fund during the 4th quarter valued at about $809,000. Finally, NewEdge Advisors LLC lifted its stake in shares of India Fund by 11.7% in the 4th quarter. NewEdge Advisors LLC now owns 18,543 shares of the investment management company’s stock worth $254,000 after purchasing an additional 1,939 shares during the period. Institutional investors own 10.76% of the company’s stock.

About India Fund

(Get Free Report)

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.

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