India Fund (NYSE:IFN) Reaches New 1-Year Low – Time to Sell?

India Fund, Inc. (NYSE:IFN) hit a new 52-week low on Friday . The company traded as low as $12.41 and last traded at $12.44, with a volume of 321750 shares traded. The stock had previously closed at $12.61.

India Fund Price Performance

The firm has a 50 day simple moving average of $13.74 and a 200-day simple moving average of $14.39.

India Fund Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, February 20th will be issued a dividend of $0.906 per share. The ex-dividend date of this dividend is Friday, February 20th. This represents a $3.62 dividend on an annualized basis and a dividend yield of 29.1%.

Institutional Investors Weigh In On India Fund

Large investors have recently added to or reduced their stakes in the business. Advisory Services Network LLC acquired a new stake in shares of India Fund during the third quarter worth $26,000. Colonial Trust Advisors acquired a new position in shares of India Fund in the second quarter valued at about $31,000. International Assets Investment Management LLC bought a new position in India Fund during the fourth quarter worth about $34,000. Wolverine Asset Management LLC bought a new position in India Fund during the third quarter worth about $49,000. Finally, Allworth Financial LP acquired a new stake in India Fund in the 2nd quarter worth about $65,000. Institutional investors own 10.76% of the company’s stock.

India Fund Company Profile

The India Fund, Inc (NYSE: IFN) is a closed-end management investment company incorporated in Maryland. It seeks to provide shareholders with long-term growth of capital, as well as current income. The fund trades on the New York Stock Exchange and offers investors access to equity markets in India through a diversified portfolio of Indian companies.

IFN invests primarily in equity securities of companies organized or domiciled in India, including common stocks, depositary receipts and other equity-related instruments.