India Fund (NYSE:IFN) Stock Price Crosses Below 200 Day Moving Average – Should You Sell?

India Fund, Inc. (NYSE:IFN) shares crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $14.77 and traded as low as $13.56. India Fund shares last traded at $13.68, with a volume of 230,969 shares trading hands.

India Fund Stock Down 0.6%

The firm’s 50 day simple moving average is $13.90 and its 200 day simple moving average is $14.77.

India Fund Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, February 20th will be given a $0.906 dividend. This represents a $3.62 dividend on an annualized basis and a dividend yield of 26.5%. The ex-dividend date is Friday, February 20th.

Hedge Funds Weigh In On India Fund

Several institutional investors have recently added to or reduced their stakes in IFN. Advisory Services Network LLC purchased a new stake in shares of India Fund during the 3rd quarter worth approximately $26,000. Colonial Trust Advisors bought a new stake in India Fund in the second quarter worth $31,000. Wolverine Asset Management LLC bought a new stake in India Fund in the third quarter worth $49,000. Allworth Financial LP purchased a new stake in India Fund during the second quarter valued at $65,000. Finally, TrueMark Investments LLC bought a new position in India Fund during the fourth quarter valued at $137,000. Hedge funds and other institutional investors own 10.76% of the company’s stock.

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.