The India Fund (NYSE:IFN) Sets New 52-Week Low – What’s Next?

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

The India Fund Stock Down 0.2 %

The company’s fifty day simple moving average is $17.59 and its two-hundred day simple moving average is $17.97.

The India Fund Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Thursday, November 21st will be paid a dividend of $0.93 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $3.72 dividend on an annualized basis and a dividend yield of 22.98%. This is a positive change from The India Fund’s previous quarterly dividend of $0.49.

Institutional Investors Weigh In On The India Fund

A number of hedge funds and other institutional investors have recently modified their holdings of IFN. International Assets Investment Management LLC bought a new position in shares of The India Fund during the second quarter worth approximately $37,000. Wilmington Savings Fund Society FSB acquired a new stake in The India Fund during the third quarter worth approximately $65,000. Planning Capital Management Corp grew its position in The India Fund by 21.3% during the third quarter. Planning Capital Management Corp now owns 4,181 shares of the investment management company’s stock worth $80,000 after buying an additional 733 shares in the last quarter. IHT Wealth Management LLC bought a new position in The India Fund during the 3rd quarter worth $191,000. Finally, Rathbones Group PLC raised its holdings in The India Fund by 22.6% in the 2nd quarter. Rathbones Group PLC now owns 12,205 shares of the investment management company’s stock valued at $218,000 after acquiring an additional 2,246 shares in the last quarter. Institutional investors and hedge funds 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.