India Fund (NYSE:IFN) Stock Price Passes Below Two Hundred Day Moving Average – Should You Sell?

India Fund, Inc. (NYSE:IFN) passed 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 traded.

India Fund Stock Performance

The company’s 50-day moving average price is $14.51 and its two-hundred day moving average price is $15.17.

India Fund Announces Dividend

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

Institutional Investors Weigh In On India Fund

Institutional investors and hedge funds have recently made changes to their positions in the business. Advisory Services Network LLC bought a new stake in India Fund in the third quarter worth approximately $26,000. Susquehanna International Group LLP acquired a new stake in shares of India Fund during the 3rd quarter worth approximately $476,000. Millennium Management LLC bought a new stake in shares of India Fund in the 3rd quarter valued at $198,000. City of London Investment Management Co. Ltd. bought a new stake in shares of India Fund in the 3rd quarter valued at $12,167,000. Finally, Bank of America Corp DE lifted its position in shares of India Fund by 54.6% during the 3rd quarter. Bank of America Corp DE now owns 49,527 shares of the investment management company’s stock valued at $726,000 after acquiring an additional 17,482 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.