India Fund (NYSE:IFN) Share Price Passes Below 200 Day Moving Average – Time to Sell?

Shares of India Fund, Inc. (NYSE:IFN) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $15.19 and traded as low as $13.75. India Fund shares last traded at $13.80, with a volume of 117,155 shares changing hands.

India Fund Trading Down 0.3%

The company’s 50-day simple moving average is $14.54 and its 200 day simple moving average is $15.19.

India Fund Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, February 20th will be issued a dividend of $0.906 per share. The ex-dividend date of this dividend is Friday, February 20th. This represents a $3.62 dividend on an annualized basis and a dividend yield of 26.3%.

Institutional Investors Weigh In On India Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. one8zero8 LLC boosted its position in India Fund by 5.4% during the third quarter. one8zero8 LLC now owns 13,111 shares of the investment management company’s stock worth $192,000 after purchasing an additional 676 shares during the period. Osaic Holdings Inc. boosted its holdings in shares of India Fund by 4.9% during the 2nd quarter. Osaic Holdings Inc. now owns 30,304 shares of the investment management company’s stock worth $501,000 after buying an additional 1,417 shares during the period. Integrity Wealth Advisors Inc. boosted its holdings in shares of India Fund by 9.8% during the 1st quarter. Integrity Wealth Advisors Inc. now owns 16,114 shares of the investment management company’s stock worth $254,000 after buying an additional 1,441 shares during the period. Advisory Services Network LLC acquired a new position in India Fund in the 3rd quarter valued at $26,000. Finally, Colonial Trust Advisors bought a new position in India Fund in the 2nd quarter worth $31,000. 10.76% of the stock is currently owned by institutional investors and hedge funds.

About India Fund

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.