The India Fund (NYSE:IFN) Hits New 52-Week High at $17.79

The India Fund, Inc. (NYSE:IFN)’s stock price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $17.79 and last traded at $17.70, with a volume of 95516 shares traded. The stock had previously closed at $17.45.

The India Fund Stock Up 1.0 %

The business’s 50 day moving average is $16.93 and its 200-day moving average is $16.50.

The India Fund Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Wednesday, November 22nd will be given a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 9.30%. The ex-dividend date is Tuesday, November 21st.

Hedge Funds Weigh In On The India Fund

Large investors have recently modified their holdings of the stock. Raymond James & Associates increased its holdings in The India Fund by 3.2% in the first quarter. Raymond James & Associates now owns 24,022 shares of the investment management company’s stock valued at $464,000 after buying an additional 744 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its position in shares of The India Fund by 25.5% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 79,830 shares of the investment management company’s stock worth $1,542,000 after acquiring an additional 16,242 shares in the last quarter. Cibc World Market Inc. increased its holdings in shares of The India Fund by 39.0% in the 1st quarter. Cibc World Market Inc. now owns 37,373 shares of the investment management company’s stock valued at $722,000 after acquiring an additional 10,490 shares during the last quarter. Lazard Asset Management LLC raised its position in shares of The India Fund by 0.3% during the 1st quarter. Lazard Asset Management LLC now owns 2,327,151 shares of the investment management company’s stock valued at $44,937,000 after acquiring an additional 6,351 shares in the last quarter. Finally, UBS Group AG lifted its stake in The India Fund by 8.9% during the first quarter. UBS Group AG now owns 32,611 shares of the investment management company’s stock worth $630,000 after purchasing an additional 2,671 shares during the last quarter. Institutional investors own 8.11% of the company’s stock.

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.