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

Shares of The India Fund, Inc. (NYSE:IFN) hit 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 trading hands. The stock had previously closed at $16.11.

The India Fund Stock Performance

The firm has a 50-day moving average of $17.48 and a two-hundred day moving average of $17.97.

The India Fund Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Thursday, November 21st will be given a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 23.11%. This is a boost from The India Fund’s previous quarterly dividend of $0.49. The ex-dividend date is Thursday, November 21st.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. International Assets Investment Management LLC acquired a new stake in The India Fund during the second quarter worth about $37,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of The India Fund during the 3rd quarter worth approximately $65,000. Planning Capital Management Corp increased its position in shares of 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 valued at $80,000 after purchasing an additional 733 shares during the period. IHT Wealth Management LLC acquired a new position in shares of The India Fund in the third quarter valued at $191,000. Finally, Rathbones Group PLC lifted its position in The India Fund by 22.6% in the second quarter. Rathbones Group PLC now owns 12,205 shares of the investment management company’s stock worth $218,000 after purchasing an additional 2,246 shares during the period. Institutional investors 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.