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

The India Fund, Inc. (NYSE:IFN) shares passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $17.82 and traded as low as $16.06. The India Fund shares last traded at $16.21, with a volume of 115,097 shares trading hands.

The India Fund Stock Up 0.7 %

The stock’s 50 day simple moving average is $16.95 and its 200 day simple moving average is $17.82.

The India Fund Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Thursday, November 21st will be paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 22.95%. The ex-dividend date is Thursday, November 21st. This is a boost from The India Fund’s previous quarterly dividend of $0.49.

Institutional Investors Weigh In On The India Fund

Several hedge funds have recently added to or reduced their stakes in the company. Landscape Capital Management L.L.C. raised its holdings in shares of The India Fund by 25.3% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 715,745 shares of the investment management company’s stock valued at $13,613,000 after buying an additional 144,609 shares in the last quarter. Raymond James & Associates raised its stake in shares of The India Fund by 15.0% during the third quarter. Raymond James & Associates now owns 401,391 shares of the investment management company’s stock worth $7,634,000 after acquiring an additional 52,291 shares in the last quarter. Penserra Capital Management LLC bought a new stake in shares of The India Fund in the 3rd quarter worth approximately $4,794,000. Rivernorth Capital Management LLC purchased a new stake in shares of The India Fund in the 3rd quarter valued at $3,540,000. Finally, Consolidated Portfolio Review Corp grew its holdings in shares of The India Fund by 10.6% during the 3rd quarter. Consolidated Portfolio Review Corp now owns 105,362 shares of the investment management company’s stock valued at $2,004,000 after purchasing an additional 10,121 shares during the last quarter. Institutional investors own 10.76% of the company’s stock.

The 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.