The India Fund (NYSE:IFN) Reaches New 52-Week Low – Should You Sell?

Shares of The India Fund, Inc. (NYSE:IFN) reached a new 52-week low during trading on Tuesday . The stock traded as low as $15.91 and last traded at $16.10, with a volume of 184833 shares traded. The stock had previously closed at $16.11.

The India Fund Stock Down 0.1 %

The company’s fifty day moving average price is $17.38 and its two-hundred day moving average price is $17.94.

The India Fund Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Thursday, November 21st will be issued a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 23.11%. 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.

Institutional Trading of The India Fund

Hedge funds have recently modified their holdings of the business. International Assets Investment Management LLC acquired a new stake in The India Fund in the second quarter valued at $37,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of The India Fund in the third quarter valued at about $65,000. Planning Capital Management Corp boosted its holdings 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 purchased a new stake in The India Fund during the third quarter worth about $191,000. Finally, Rathbones Group PLC grew its position 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 during the period. 10.76% of the stock is 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.