The India Fund (NYSE:IFN) Hits New 12-Month Low – Here’s Why

The India Fund, Inc. (NYSE:IFN) hit a new 52-week low on Tuesday . The company 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 Down 0.1 %

The company has a fifty day moving average price of $17.38 and a two-hundred day moving average price of $17.94.

The India Fund Increases Dividend

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Rivernorth Capital Management LLC acquired a new stake in shares of The India Fund during the third quarter worth about $3,540,000. Wilmington Savings Fund Society FSB acquired a new stake in The India Fund during the 3rd quarter worth approximately $65,000. Public Employees Retirement System of Ohio purchased a new position in shares of The India Fund in the 3rd quarter valued at approximately $873,000. EP Wealth Advisors LLC purchased a new position in shares of The India Fund in the 3rd quarter valued at approximately $1,264,000. Finally, Stifel Financial Corp increased its holdings in shares of The India Fund by 24.3% in the third quarter. Stifel Financial Corp now owns 55,049 shares of the investment management company’s stock valued at $1,047,000 after purchasing an additional 10,764 shares during the period. 10.76% of the stock is owned by hedge funds and other 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.