India Fund (NYSE:IFN) Stock Crosses Below 200-Day Moving Average – Should You Sell?

Shares of India Fund, Inc. (NYSE:IFN) passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $13.07 and traded as low as $11.19. India Fund shares last traded at $11.20, with a volume of 141,623 shares traded.

India Fund Price Performance

The company’s 50-day moving average is $11.61 and its two-hundred day moving average is $13.03.

India Fund Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Thursday, May 21st will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 13.9%. The ex-dividend date is Thursday, May 21st.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of IFN. City of London Investment Management Co. Ltd. bought a new position in India Fund during the third quarter valued at approximately $12,167,000. Advocate Investing Services LLC bought a new position in India Fund during the fourth quarter valued at approximately $1,001,000. Lazard Asset Management LLC grew its position in India Fund by 64.9% during the second quarter. Lazard Asset Management LLC now owns 176,157 shares of the investment management company’s stock valued at $2,911,000 after acquiring an additional 69,338 shares during the last quarter. EP Wealth Advisors LLC bought a new position in India Fund during the fourth quarter valued at approximately $809,000. Finally, Wolverine Asset Management LLC grew its position in India Fund by 1,663.0% during the fourth quarter. Wolverine Asset Management LLC now owns 58,830 shares of the investment management company’s stock valued at $807,000 after acquiring an additional 55,493 shares during the last quarter. 10.76% of the stock is currently owned by institutional investors.

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.