The India Fund (NYSE:IFN) Hits New 12-Month Low – Time to Sell?

The India Fund, Inc. (NYSE:IFN)’s share price 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 Price Performance

The company has a 50 day moving average of $17.48 and a 200 day moving average of $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 $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 23.11%. The ex-dividend date of this dividend is Thursday, November 21st. This is an increase from The India Fund’s previous quarterly dividend of $0.49.

Institutional Investors Weigh In On The India Fund

Hedge funds have recently made changes to their positions in the company. International Assets Investment Management LLC grew its stake in The India Fund by 1,850.8% during the third quarter. International Assets Investment Management LLC now owns 40,811 shares of the investment management company’s stock worth $7,760,000 after buying an additional 38,719 shares during the last quarter. Quarry LP acquired a new position in shares of The India Fund in the 2nd quarter worth approximately $619,000. Concurrent Investment Advisors LLC bought a new stake in The India Fund during the 3rd quarter worth approximately $881,000. Sea Otter Advisors LLC acquired a new stake in The India Fund during the 2nd quarter valued at $1,179,000. Finally, Rivernorth Capital Management LLC bought a new position in The India Fund in the 3rd quarter valued at $607,000. 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.