Yes, you can move the index files and then in the Index Manager add a new index but choose 'Add reference to an existing index' and then specify the new folder location:

Alternative Solution
The 'pointer' to the index folder is stored in the user's AppData config folder so you could just edit the idx...xml file to change the folder to the new location.
C:\Users\user_name\AppData\Roaming\Mythicsoft\FileLocatorPro\config\idx_...xml
