India Fund (NYSE:IFN) Shares Pass Below Two Hundred Day Moving Average – Should You Sell?

India Fund, Inc. (NYSE:IFN)’s stock price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $12.13 and traded as low as $11.77. India Fund shares last traded at $11.8050, with a volume of 133,979 shares trading hands.

India Fund Price Performance

The company has a 50-day moving average of $11.42 and a 200-day moving average of $12.12.

India Fund Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Thursday, May 21st were issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 13.2%. The ex-dividend date was Thursday, May 21st.

Institutional Investors Weigh In On India Fund

Several large investors have recently made changes to their positions in IFN. Cetera Investment Advisers lifted its position in India Fund by 4.5% in the 4th quarter. Cetera Investment Advisers now owns 563,066 shares of the investment management company’s stock valued at $7,720,000 after acquiring an additional 24,464 shares in the last quarter. Raymond James Financial Inc. raised its stake in shares of India Fund by 1.4% in the 3rd quarter. Raymond James Financial Inc. now owns 525,157 shares of the investment management company’s stock valued at $7,694,000 after purchasing an additional 7,461 shares during the period. UBS Group AG raised its stake in shares of India Fund by 4.2% in the 3rd quarter. UBS Group AG now owns 247,317 shares of the investment management company’s stock valued at $3,623,000 after purchasing an additional 10,013 shares during the period. Lazard Asset Management LLC lifted its holdings in shares of India Fund by 2.3% in the fourth quarter. Lazard Asset Management LLC now owns 221,669 shares of the investment management company’s stock valued at $3,039,000 after purchasing an additional 4,904 shares in the last quarter. Finally, LPL Financial LLC boosted its position in shares of India Fund by 3.4% during the fourth quarter. LPL Financial LLC now owns 175,953 shares of the investment management company’s stock worth $2,412,000 after buying an additional 5,704 shares during the period. 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.