India Fund (NYSE:IFN) Shares Pass Below Two Hundred Day Moving Average - Time to Sell?

Key Points

• Price breach: Shares of India Fund (IFN) fell below their 200-day moving average of $14.12, trading as low as $11.32 and last at $11.46 on volume of 262,171 shares.
• Huge dividend yield: The fund declared a quarterly dividend of $0.906 (paid Mar 31; record/ex-dividend date Feb 20), equal to an annualized $3.62 and a 31.6% yield.
• Limited institutional ownership: Institutional investors own about 10.76% of the stock, with several firms making modest recent purchases or adding new small positions.

Shares of India Fund, Inc. (NYSE:IFN - Get Free Report) crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $14.12 and traded as low as $11.32. India Fund shares last traded at $11.46, with a volume of 262,171 shares trading hands.

India Fund Price Performance

The business has a 50 day moving average price of $13.30 and a 200 day moving average price of $14.12.

India Fund Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend is Friday, February 20th. This represents a $3.62 dividend on an annualized basis and a yield of 31.6%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. one8zero8 LLC boosted its position in shares of India Fund by 5.4% in the third quarter. one8zero8 LLC now owns 13,111 shares of the investment management company's stock valued at $192,000 after acquiring an additional 676 shares during the period. Osaic Holdings Inc. increased its position in India Fund by 4.9% during the second quarter. Osaic Holdings Inc. now owns 30,304 shares of the investment management company's stock worth $501,000 after acquiring an additional 1,417 shares during the period. Advisory Services Network LLC acquired a new position in India Fund during the 3rd quarter valued at $26,000. Colonial Trust Advisors acquired a new position in India Fund during the 2nd quarter valued at $31,000. Finally, NewEdge Advisors LLC boosted its holdings in India Fund by 11.7% in the 4th quarter. NewEdge Advisors LLC now owns 18,543 shares of the investment management company's stock valued at $254,000 after purchasing an additional 1,939 shares during the period. 10.76% of the stock is currently 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.

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