India Fund (NYSE:IFN) Sets New 52-Week Low - Here's Why

Shares of India Fund, Inc. (NYSE:IFN - Get Free Report) reached a new 52-week low during mid-day trading on Friday . The stock 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 Price PerformanceThe stock has a fifty day simple moving average of $13.74 and a two-hundred day simple moving average of $14.40. India Fund Dividend AnnouncementThe business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, February 20th will be given a dividend of $0.906 per share. The ex-dividend date of this dividend is Friday, February 20th. This represents a $3.62 annualized dividend and a dividend yield of 29.1%. Institutional Inflows and OutflowsA number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Penserra Capital Management LLC boosted its stake in India Fund by 3.0% during the second 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 in the last quarter. City of London Investment Management Co. Ltd. acquired a new stake in India Fund in the 3rd quarter valued at about $12,167,000. Cetera Investment Advisers boosted its position in shares of India Fund by 4.5% during the 4th quarter. Cetera Investment Advisers now owns 563,066 shares of the investment management company's stock valued at $7,720,000 after purchasing an additional 24,464 shares in the last quarter. Raymond James Financial Inc. grew its stake in shares of India Fund by 1.4% in the 3rd quarter. Raymond James Financial Inc. now owns 525,157 shares of the investment management company's stock worth $7,694,000 after purchasing an additional 7,461 shares during the last quarter. Finally, UBS Group AG raised its holdings in shares of India Fund by 4.2% in the 3rd quarter. UBS Group AG now owns 247,317 shares of the investment management company's stock worth $3,623,000 after purchasing an additional 10,013 shares in the last quarter. Institutional investors and hedge funds own 10.76% of the company's stock. India Fund Company Profile (Get Free Report)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.Featured ArticlesFive stocks we like better than India FundSilver paying 20% dividend. Plus 68% share gainsWhat happened in Cyprus could be coming hereYour name isn't on our protected list yetWhat a Former CIA Agent Knows About the Coming CollapseWhat Expenses Can Be Deducted From Capital Gains Tax This Year?This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in India Fund Right Now?Before you consider India Fund, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and India Fund wasn't on the list.While India Fund currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here