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

The India Fund, Inc. (NYSE:IFN) 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 trading hands. The stock had previously closed at $16.80.

The India Fund Stock Down 2.9 %

The stock has a 50 day moving average of $17.68 and a two-hundred day moving average of $18.00.

The India Fund Increases Dividend

The company also recently declared 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 is a positive change from The India Fund’s previous quarterly dividend of $0.49. The ex-dividend date is Thursday, November 21st. This represents a $3.72 dividend on an annualized basis and a dividend yield of 22.79%.

Institutional Trading of The India Fund

Several large investors have recently modified their holdings of IFN. International Assets Investment Management LLC acquired a new position in The India Fund during the 2nd quarter worth $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 increased its stake in shares of 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 position in shares of The India Fund during the 3rd quarter worth about $191,000. Finally, Rathbones Group PLC boosted its stake 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 period. 10.76% of the stock is owned by institutional investors.

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.