India Fund (NYSE:IFN) Shares Cross Below 200 Day Moving Average - Should You Sell?

Key Points

• India Fund (NYSE: IFN) shares fell below their 200-day moving average, trading as low as $11.35 versus the $12.24 benchmark. The stock last traded at $11.4250, signaling recent technical weakness.
• The fund recently paid a quarterly dividend of $0.39 per share, which works out to an annualized payout of $1.56 and a high 13.7% yield. The ex-dividend date was May 21, with payment on June 30.
• Several institutional investors increased their holdings in IFN in recent quarters, including Lazard Asset Management and Focus Partners Wealth. Overall, institutional ownership stands at 10.76%.

India Fund, Inc. (NYSE:IFN - Get Free Report) shares crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred 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 traded.

India Fund Stock Performance

The business has a 50 day moving average of $11.38 and a two-hundred day moving average of $12.24.

India Fund Announces Dividend

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

Institutional Trading of India Fund

A number of institutional investors have recently modified their holdings of IFN. Focus Partners Wealth raised its stake in shares of India Fund by 14.4% during the 1st quarter. Focus Partners Wealth now owns 50,510 shares of the investment management company's stock worth $797,000 after acquiring an additional 6,363 shares in the last quarter. Schnieders Capital Management LLC. boosted its stake in India Fund by 14.0% in the second quarter. Schnieders Capital Management LLC. now owns 32,672 shares of the investment management company's stock valued at $540,000 after acquiring an additional 4,001 shares in the last quarter. NewEdge Advisors LLC boosted its stake in India Fund by 39.8% in the second quarter. NewEdge Advisors LLC now owns 16,665 shares of the investment management company's stock valued at $275,000 after acquiring an additional 4,748 shares in the last quarter. Lazard Asset Management LLC grew its holdings in India Fund by 64.9% in the second quarter. Lazard Asset Management LLC now owns 176,157 shares of the investment management company's stock worth $2,911,000 after purchasing an additional 69,338 shares during the last quarter. Finally, Osaic Holdings Inc. grew its holdings in India Fund by 4.9% in the second quarter. Osaic Holdings Inc. now owns 30,304 shares of the investment management company's stock worth $501,000 after purchasing an additional 1,417 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.

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