India Fund (NYSE:IFN) Sets New 12-Month Low – Here’s What Happened

India Fund, Inc. (NYSE:IFN)’s stock price 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. The stock had previously closed at $12.61.

India Fund Stock Performance

The stock has a fifty day moving average price of $13.74 and a 200 day moving average price of $14.40.

India Fund Announces Dividend

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

Institutional Trading of India Fund

Several large investors have recently modified their holdings of IFN. Penserra Capital Management LLC grew its stake in India Fund by 3.0% in the 2nd quarter. Penserra Capital Management LLC now owns 1,002,545 shares of the investment management company’s stock valued at $16,572,000 after buying an additional 29,609 shares during the last quarter. City of London Investment Management Co. Ltd. acquired a new position in India Fund during the 3rd quarter worth $12,167,000. Cetera Investment Advisers boosted its holdings in India Fund by 4.5% during the fourth quarter. Cetera Investment Advisers now owns 563,066 shares of the investment management company’s stock valued at $7,720,000 after acquiring an additional 24,464 shares during the period. Raymond James Financial Inc. boosted its holdings in India Fund by 1.4% during the third quarter. Raymond James Financial Inc. now owns 525,157 shares of the investment management company’s stock valued at $7,694,000 after acquiring an additional 7,461 shares during the period. Finally, UBS Group AG grew its position in shares of India Fund by 4.2% in the third quarter. UBS Group AG now owns 247,317 shares of the investment management company’s stock valued at $3,623,000 after purchasing an additional 10,013 shares during the last quarter. 10.76% of the stock is owned by institutional investors.

About India Fund

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.