Morgan Stanley India Investment Fund (NYSE:IIF) Stock Passes Above 50-Day Moving Average – Here’s Why

Morgan Stanley India Investment Fund, Inc. (NYSE:IIF)’s share price passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $21.94 and traded as high as $22.89. Morgan Stanley India Investment Fund shares last traded at $22.2840, with a volume of 32,565 shares.

Morgan Stanley India Investment Fund Stock Up 0.1%

The stock has a fifty day moving average price of $21.94 and a two-hundred day moving average price of $23.21.

Institutional Investors Weigh In On Morgan Stanley India Investment Fund

A number of institutional investors have recently added to or reduced their stakes in IIF. Raymond James Financial Inc. purchased a new stake in Morgan Stanley India Investment Fund in the 2nd quarter valued at about $46,000. Osaic Holdings Inc. grew its holdings in shares of Morgan Stanley India Investment Fund by 203.7% in the second quarter. Osaic Holdings Inc. now owns 2,032 shares of the company’s stock valued at $57,000 after acquiring an additional 1,363 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Morgan Stanley India Investment Fund by 172.1% in the first quarter. PNC Financial Services Group Inc. now owns 5,960 shares of the company’s stock valued at $123,000 after acquiring an additional 3,770 shares in the last quarter. SeaCrest Wealth Management LLC purchased a new stake in shares of Morgan Stanley India Investment Fund during the third quarter valued at approximately $208,000. Finally, Commonwealth Equity Services LLC purchased a new stake in shares of Morgan Stanley India Investment Fund during the fourth quarter valued at approximately $215,000. 36.96% of the stock is owned by institutional investors.

Morgan Stanley India Investment Fund Company Profile

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.