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

India Fund, Inc. (NYSE:IFN)’s share price passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $14.87 and traded as low as $13.72. India Fund shares last traded at $13.7350, with a volume of 409,221 shares traded.

India Fund Price Performance

The business’s 50-day moving average price is $14.11 and its 200 day moving average price is $14.87.

India Fund Announces Dividend

The company 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 $0.906 dividend. This represents a $3.62 annualized dividend and a yield of 26.4%. The ex-dividend date of this dividend is Friday, February 20th.

Institutional Investors Weigh In On India Fund

A number of institutional investors and hedge funds have recently made changes to their positions in the business. TrueMark Investments LLC purchased a new position in India Fund during the fourth quarter worth about $137,000. Advisory Services Network LLC purchased a new stake in shares of India Fund in the 3rd quarter valued at about $26,000. Susquehanna International Group LLP bought a new stake in shares of India Fund during the 3rd quarter valued at about $476,000. Millennium Management LLC bought a new stake in shares of India Fund during the 3rd quarter valued at about $198,000. Finally, City of London Investment Management Co. Ltd. purchased a new position in shares of India Fund during the third quarter worth about $12,167,000. Hedge funds and other 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.