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

India Fund, Inc. (NYSE:IFN)’s share 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 changing hands.

India Fund Stock Performance

The stock has a 50-day simple moving average of $11.58 and a 200-day simple moving average of $12.61.

India Fund Dividend Announcement

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

Institutional Trading of India Fund

Several institutional investors have recently modified their holdings of the company. Advisory Services Network LLC acquired a new stake in shares of India Fund in the third quarter valued at $26,000. International Assets Investment Management LLC acquired a new position in India Fund during the fourth quarter worth about $34,000. TrueMark Investments LLC bought a new stake in India Fund in the fourth quarter worth about $137,000. Baker Ellis Asset Management LLC bought a new stake in India Fund in the fourth quarter worth about $165,000. Finally, Decision Investments Inc. acquired a new stake in India Fund in the 1st quarter valued at about $178,000. Institutional investors and hedge funds own 10.76% of the company’s stock.

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.