The India Fund (NYSE:IFN) Reaches New 12-Month Low – Here’s What Happened

The India Fund, Inc. (NYSE:IFN)’s stock 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 Trading Down 0.2 %

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

The India Fund Increases Dividend

The company also recently disclosed 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 is a positive change from The India Fund’s previous quarterly dividend of $0.49. This represents a $3.72 annualized dividend and a dividend yield of 22.98%.

Institutional Investors Weigh In On The India Fund

Hedge funds have recently bought and sold shares of the company. Planning Capital Management Corp raised its stake 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 valued at $80,000 after buying an additional 733 shares during the period. Cassaday & Co Wealth Management LLC raised its stake in The India Fund by 5.3% in the 3rd quarter. Cassaday & Co Wealth Management LLC now owns 15,409 shares of the investment management company’s stock valued at $293,000 after acquiring an additional 774 shares during the period. International Assets Investment Management LLC bought a new stake in The India Fund in the 2nd quarter valued at $37,000. Rathbones Group PLC lifted its holdings in The India Fund by 22.6% during the 2nd quarter. Rathbones Group PLC now owns 12,205 shares of the investment management company’s stock valued at $218,000 after purchasing an additional 2,246 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in The India Fund during the third quarter worth $65,000. 10.76% of the stock is currently owned by institutional investors and hedge funds.

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.