India Fund (NYSE:IFN) Stock Price Crosses Above 50-Day Moving Average – Should You Sell?

by · The Markets Daily

India Fund, Inc. (NYSE:IFN – Get Free Report)’s stock price crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $11.53 and traded as high as $11.76. India Fund shares last traded at $11.7550, with a volume of 122,131 shares.

India Fund Price Performance

The company’s 50-day moving average price is $11.53 and its 200-day moving average price is $12.51.

India Fund Dividend Announcement

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

Institutional Investors Weigh In On India Fund

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

About India Fund

(Get Free Report)

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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