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 two hundred day moving average during trading on Thursday . The stock has a two hundred 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 trading hands.

India Fund Stock Performance

The firm has a 50-day moving average of $14.54 and a two-hundred day moving average of $15.19.

India Fund Dividend Announcement

The firm also recently declared 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 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

Several hedge funds and other institutional investors have recently modified their holdings of IFN. Raymond James Financial Inc. grew its position in India Fund by 11.1% in the 1st quarter. Raymond James Financial Inc. now owns 527,682 shares of the investment management company’s stock worth $8,322,000 after purchasing an additional 52,520 shares during the last quarter. Strs Ohio bought a new stake in shares of India Fund in the first quarter valued at about $3,785,000. Cetera Investment Advisers lifted its stake in shares of India Fund by 10.0% in the second quarter. Cetera Investment Advisers now owns 522,340 shares of the investment management company’s stock valued at $8,634,000 after buying an additional 47,284 shares during the period. Allworth Financial LP acquired a new stake in India Fund during the second quarter worth about $65,000. Finally, Schnieders Capital Management LLC. increased its stake in India Fund by 14.0% during the second quarter. Schnieders Capital Management LLC. now owns 32,672 shares of the investment management company’s stock valued at $540,000 after acquiring an additional 4,001 shares during the period. Institutional investors and hedge funds 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.