India Fund (NYSE:IFN) Share Price Crosses Below 200-Day Moving Average - Here's What Happened

Key Points

• India Fund shares fell below their 200-day moving average of $11.87, trading as low as $11.45 and last changing hands at $11.4770 on volume of 131,621 shares.
• The fund announced a quarterly dividend of $0.37 per share, equivalent to $1.48 annually and a 12.9% yield; the payment is scheduled for September 30 to shareholders of record on August 24.
• Institutional ownership stands at 10.76%, with several investment firms increasing their positions, including Lazard Asset Management, which raised its stake by 64.9% during the second quarter.

India Fund, Inc. (NYSE:IFN - Get Free Report)'s share price crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $11.87 and traded as low as $11.45. India Fund shares last traded at $11.4770, with a volume of 131,621 shares changing hands.

India Fund Price Performance

The company's fifty day simple moving average is $11.64 and its 200 day simple moving average is $11.87.

India Fund Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Monday, August 24th will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 12.9%. The ex-dividend date is Monday, August 24th.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Focus Partners Wealth lifted its position in India Fund by 14.4% during the first quarter. Focus Partners Wealth now owns 50,510 shares of the investment management company's stock worth $797,000 after acquiring an additional 6,363 shares during the last quarter. Schnieders Capital Management LLC. grew its position in shares of India Fund by 14.0% in the second quarter. Schnieders Capital Management LLC. now owns 32,672 shares of the investment management company's stock valued at $540,000 after purchasing an additional 4,001 shares during the last quarter. NewEdge Advisors LLC grew its position in shares of India Fund by 39.8% in the second quarter. NewEdge Advisors LLC now owns 16,665 shares of the investment management company's stock valued at $275,000 after purchasing an additional 4,748 shares during the last quarter. Lazard Asset Management LLC increased its stake in shares of India Fund by 64.9% during the second quarter. Lazard Asset Management LLC now owns 176,157 shares of the investment management company's stock worth $2,911,000 after purchasing an additional 69,338 shares during the period. Finally, Osaic Holdings Inc. increased its stake in shares of India Fund by 4.9% during the second quarter. Osaic Holdings Inc. now owns 30,304 shares of the investment management company's stock worth $501,000 after purchasing an additional 1,417 shares during the period. 10.76% of the stock is owned by institutional investors.

India Fund Company Profile

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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