The India Fund (NYSE:IFN) Sets New 1-Year Low – Should You Sell?

The India Fund, Inc. (NYSE:IFN)’s share price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $16.52 and last traded at $16.52, with a volume of 196313 shares. The stock had previously closed at $16.80.

The India Fund Stock Performance

The stock’s 50-day moving average is $17.68 and its 200-day moving average is $18.00.

The India Fund Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Thursday, November 21st will be issued a dividend of $0.93 per share. This is an increase from The India Fund’s previous quarterly dividend of $0.49. The ex-dividend date is Thursday, November 21st. This represents a $3.72 annualized dividend and a dividend yield of 22.79%.

Hedge Funds Weigh In On The India Fund

Large investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC acquired a new stake in shares of The India Fund during the 2nd quarter worth approximately $37,000. Wilmington Savings Fund Society FSB acquired a new position in shares of The India Fund in the third quarter valued at $65,000. Planning Capital Management Corp lifted its position in The India Fund by 21.3% in the third quarter. Planning Capital Management Corp now owns 4,181 shares of the investment management company’s stock worth $80,000 after purchasing an additional 733 shares during the period. IHT Wealth Management LLC acquired a new stake in The India Fund during the third quarter worth $191,000. Finally, Rathbones Group PLC boosted its stake in The India Fund by 22.6% during the second quarter. Rathbones Group PLC now owns 12,205 shares of the investment management company’s stock worth $218,000 after buying an additional 2,246 shares in the last quarter. Institutional investors and hedge funds own 10.76% of the company’s stock.

About The India Fund

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.