Morgan Stanley India Investment Fund (NYSE:IIF) Share Price Crosses Below 50-Day Moving Average – Here’s What Happened

by · The Cerbat Gem

Morgan Stanley India Investment Fund, Inc. (NYSE:IIF – Get Free Report)’s share price crossed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $21.76 and traded as low as $21.39. Morgan Stanley India Investment Fund shares last traded at $21.48, with a volume of 25,245 shares trading hands.

Morgan Stanley India Investment Fund Stock Down 0.8%

The business has a 50 day simple moving average of $21.76 and a 200 day simple moving average of $24.15.

Institutional Investors Weigh In On Morgan Stanley India Investment Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. City of London Investment Management Co. Ltd. raised its stake in shares of Morgan Stanley India Investment Fund by 366.1% in the third quarter. City of London Investment Management Co. Ltd. now owns 482,174 shares of the company’s stock worth $12,705,000 after purchasing an additional 378,732 shares during the last quarter. Pursuit Wealth Management LLC purchased a new position in shares of Morgan Stanley India Investment Fund in the fourth quarter worth about $717,000. SeaCrest Wealth Management LLC raised its stake in shares of Morgan Stanley India Investment Fund by 11.5% in the fourth quarter. SeaCrest Wealth Management LLC now owns 8,700 shares of the company’s stock worth $218,000 after purchasing an additional 900 shares during the last quarter. Calamos Advisors LLC raised its stake in shares of Morgan Stanley India Investment Fund by 13.5% in the first quarter. Calamos Advisors LLC now owns 16,208 shares of the company’s stock worth $334,000 after purchasing an additional 1,930 shares during the last quarter. Finally, Gould Asset Management LLC CA raised its stake in shares of Morgan Stanley India Investment Fund by 25.5% in the first quarter. Gould Asset Management LLC CA now owns 13,624 shares of the company’s stock worth $280,000 after purchasing an additional 2,770 shares during the last quarter. 36.96% of the stock is currently owned by hedge funds and other institutional investors.

About Morgan Stanley India Investment Fund

(Get Free Report)

Morgan Stanley India Investment Fund (NYSE:IIF) is a closed-end investment company sponsored by Morgan Stanley Investment Management and listed on the New York Stock Exchange. Incepted in December 1994, the fund provides U.S. investors with a dedicated vehicle for exposure to the securities of Indian companies. As a closed-end fund, it issues a fixed number of shares that trade on the NYSE, offering liquidity and the potential for share price discovery in addition to underlying net asset value.

The fund’s primary objective is long-term capital appreciation through investments in equity securities of Indian issuers.

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