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

The India Fund, Inc. (NYSE:IFN) shares passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $16.43 and traded as low as $14.54. The India Fund shares last traded at $14.72, with a volume of 118,421 shares traded.

The India Fund Stock Performance

The firm has a 50 day moving average price of $15.14 and a 200 day moving average price of $16.41.

The India Fund Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, February 21st were given a $0.46 dividend. The ex-dividend date was Friday, February 21st. This represents a $1.84 annualized dividend and a dividend yield of 12.23%.

Hedge Funds Weigh In On The India Fund

Several institutional investors have recently bought and sold shares of the business. Noble Wealth Management PBC purchased a new position in shares of The India Fund in the 4th quarter valued at $49,000. Wilmington Savings Fund Society FSB bought a new position in The India Fund in the third quarter worth about $65,000. Farther Finance Advisors LLC lifted its position in shares of The India Fund by 21,522.2% during the fourth quarter. Farther Finance Advisors LLC now owns 3,892 shares of the investment management company’s stock valued at $61,000 after buying an additional 3,874 shares during the last quarter. Elequin Capital LP bought a new stake in shares of The India Fund in the 4th quarter valued at about $143,000. Finally, Waverly Advisors LLC purchased a new position in shares of The India Fund in the 4th quarter worth approximately $185,000. 10.76% of the stock is owned by hedge funds and other institutional investors.

About The India Fund

The India Fund, Inc is a close ended equity mutual fund launched and managed by Aberdeen Standard Investments (Asia) Limited. The fund invests in public equity markets of India. It seeks to invest in stocks of small-cap, mid-cap, and large-cap companies. The fund employs a quantitative and fundamental analysis with a bottom-up stock picking and asset allocation approach to create its portfolio.