India Fund (NYSE:IFN) Stock 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 Tuesday . The stock has a two hundred day moving average of $13.96 and traded as low as $10.95. India Fund shares last traded at $11.35, with a volume of 318,108 shares traded.

India Fund Stock Up 4.5%

The firm has a fifty day moving average price of $12.96 and a 200 day moving average price of $13.96.

India Fund Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Friday, February 20th were issued a $0.906 dividend. The ex-dividend date of this dividend was Friday, February 20th. This represents a $3.62 dividend on an annualized basis and a yield of 31.9%.

Hedge Funds Weigh In On India Fund

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. City of London Investment Management Co. Ltd. acquired a new stake in shares of India Fund in the third quarter valued at about $12,167,000. Schnieders Capital Management LLC. grew its position 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. Landscape Capital Management L.L.C. acquired a new position in India Fund during the fourth quarter worth about $269,000. NewEdge Advisors LLC increased its holdings in India Fund by 11.7% in the fourth quarter. NewEdge Advisors LLC now owns 18,543 shares of the investment management company’s stock valued at $254,000 after buying an additional 1,939 shares in the last quarter. Finally, Truist Financial Corp purchased a new position in India Fund in the fourth quarter valued at about $272,000. 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.