India Fund (NYSE:IFN) Shares Cross 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 Friday . The stock has a two hundred day moving average of $12.74 and traded as low as $10.90. India Fund shares last traded at $10.9950, with a volume of 152,104 shares traded.

India Fund Stock Performance

The firm has a 50-day moving average price of $11.54 and a 200 day moving average price of $12.74.

India Fund Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Thursday, May 21st will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, May 21st. This represents a $1.56 annualized dividend and a yield of 14.2%.

Hedge Funds Weigh In On India Fund

Institutional investors have recently bought and sold shares of the company. City of London Investment Management Co. Ltd. purchased a new stake in India Fund during the third quarter worth about $12,167,000. Cetera Investment Advisers boosted its stake in shares of India Fund by 4.5% in the fourth quarter. Cetera Investment Advisers now owns 563,066 shares of the investment management company’s stock valued at $7,720,000 after purchasing an additional 24,464 shares during the period. Raymond James Financial Inc. boosted its stake in shares of India Fund by 1.4% in the third 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 grew its holdings in shares of India Fund by 4.2% in the third 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 in the last quarter. Finally, Lazard Asset Management LLC grew 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. 10.76% of the stock is owned by institutional investors and hedge funds.

About India Fund

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.