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

Key Points

• The stock price of India Fund, Inc. (NYSE:IFN) fell below its 200-day moving average of $15.68, trading as low as $14.92 on Monday.
• India Fund recently announced an increase in its quarterly dividend to $0.43, reflecting a dividend yield of 11.5%.
• Several institutional investors, including Colonial Trust Advisors and Aberdeen Group plc, have recently acquired new stakes in India Fund, with institutional ownership now at 10.76%.

India Fund, Inc. (NYSE:IFN - )'s stock price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $15.68 and traded as low as $14.92. India Fund shares last traded at $14.94, with a volume of 145,353 shares.

India Fund Price Performance

The company has a 50-day moving average price of $15.42 and a 200-day moving average price of $15.68.

India Fund Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, August 22nd will be paid a $0.43 dividend. This is a boost from India Fund's previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $1.72 dividend on an annualized basis and a dividend yield of 11.5%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Colonial Trust Advisors acquired a new position in India Fund during the second quarter valued at approximately $31,000. Allworth Financial LP bought a new position in shares of India Fund during the second quarter worth $65,000. Farther Finance Advisors LLC boosted its position in shares of India Fund by 19.7% during the first quarter. Farther Finance Advisors LLC now owns 4,660 shares of the investment management company's stock worth $73,000 after purchasing an additional 768 shares in the last quarter. Aberdeen Group plc acquired a new stake in India Fund during the 1st quarter worth $161,000. Finally, Brown Advisory Inc. acquired a new stake in India Fund during the 1st quarter worth $162,000. Institutional investors and hedge funds own 10.76% of the company's stock.

India Fund Company Profile

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.

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