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

India Fund, Inc. (NYSE:IFN) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $12.24 and traded as low as $11.35. India Fund shares last traded at $11.4250, with a volume of 90,171 shares trading hands.

India Fund Stock Up 0.9%

The firm’s 50 day moving average is $11.38 and its two-hundred day moving average is $12.24.

India Fund Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Thursday, May 21st were paid a $0.39 dividend. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $1.56 annualized dividend and a dividend yield of 13.7%.

Hedge Funds Weigh In On India Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in IFN. Advisory Services Network LLC acquired a new stake in India Fund during the 3rd quarter valued at approximately $26,000. International Assets Investment Management LLC bought a new stake in shares of India Fund in the 4th quarter valued at $34,000. TrueMark Investments LLC acquired a new stake in shares of India Fund during the fourth quarter worth $137,000. Baker Ellis Asset Management LLC acquired a new stake in shares of India Fund during the fourth quarter worth $165,000. Finally, Decision Investments Inc. acquired a new position in India Fund in the first quarter valued at $178,000. 10.76% of the stock is owned by institutional investors and hedge funds.

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.