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

India Fund, Inc. (NYSE:IFN)’s stock price passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $14.51 and traded as low as $13.35. India Fund shares last traded at $13.37, with a volume of 111,514 shares traded.

India Fund Trading Down 0.6%

The stock’s 50 day moving average price is $13.85 and its 200 day moving average price is $14.49.

India Fund Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, February 20th will be paid 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 yield of 27.2%.

Institutional Trading of India Fund

Several institutional investors have recently made changes to their positions in the stock. Allworth Financial LP purchased a new stake in shares of India Fund during the 2nd quarter worth about $65,000. Cetera Investment Advisers raised its holdings in 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. Penserra Capital Management LLC lifted its position in India Fund by 3.0% during the second quarter. Penserra Capital Management LLC now owns 1,002,545 shares of the investment management company’s stock valued at $16,572,000 after buying an additional 29,609 shares in the last quarter. Schnieders Capital Management LLC. grew 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 worth $540,000 after buying an additional 4,001 shares during the period. Finally, Alteri Wealth LLC purchased a new stake in India Fund during the second quarter worth approximately $168,000. 10.76% of the stock is owned by hedge funds and other institutional investors.

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.