India Fund (NYSE:IFN) Shares Pass Above 50 Day Moving Average – Should You Sell?

India Fund, Inc. (NYSE:IFN)’s stock price crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $11.58 and traded as high as $11.75. India Fund shares last traded at $11.6890, with a volume of 172,878 shares trading hands.

India Fund Price Performance

The firm has a fifty day moving average of $11.58 and a 200-day moving average of $12.61.

India Fund Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Thursday, May 21st will be given a $0.39 dividend. The ex-dividend date of this dividend is Thursday, May 21st. This represents a $1.56 annualized dividend and a yield of 13.3%.

Institutional Investors Weigh In On India Fund

Hedge funds have recently added to or reduced their stakes in the stock. City of London Investment Management Co. Ltd. bought a new position in shares of India Fund during the third quarter worth about $12,167,000. Cetera Investment Advisers lifted its position in India Fund by 4.5% in the 4th quarter. Cetera Investment Advisers now owns 563,066 shares of the investment management company’s stock valued at $7,720,000 after purchasing an additional 24,464 shares during the last quarter. Raymond James Financial Inc. lifted its position in India Fund by 1.4% in the 3rd quarter. Raymond James Financial Inc. now owns 525,157 shares of the investment management company’s stock valued at $7,694,000 after purchasing an additional 7,461 shares during the last quarter. UBS Group AG boosted its stake in India Fund by 4.2% during the 3rd quarter. UBS Group AG now owns 247,317 shares of the investment management company’s stock valued at $3,623,000 after purchasing an additional 10,013 shares during the period. Finally, Lazard Asset Management LLC boosted its stake in India Fund by 2.3% during the 4th quarter. Lazard Asset Management LLC now owns 221,669 shares of the investment management company’s stock valued at $3,039,000 after purchasing an additional 4,904 shares during the period. 10.76% of the stock is currently owned by institutional investors.

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.