First Trust India NIFTY 50 Equal Weight ETF (NASDAQ:NFTY) Sees Large Growth in Short Interest

First Trust India NIFTY 50 Equal Weight ETF (NASDAQ:NFTY) saw a large growth in short interest in April. As of April 15th, there was short interest totaling 28,378 shares, a growth of 54.2% from the March 31st total of 18,398 shares. Currently, 1.1% of the shares of the company are sold short. Based on an average daily volume of 45,711 shares, the short-interest ratio is currently 0.6 days.

First Trust India NIFTY 50 Equal Weight ETF Trading Up 0.1%

Shares of First Trust India NIFTY 50 Equal Weight ETF stock opened at $54.04 on Tuesday. First Trust India NIFTY 50 Equal Weight ETF has a 12-month low of $49.62 and a 12-month high of $60.70. The firm has a market capitalization of $140.50 million, a price-to-earnings ratio of 24.33 and a beta of 0.45. The firm’s 50 day simple moving average is $54.14 and its two-hundred day simple moving average is $56.80.

First Trust India NIFTY 50 Equal Weight ETF Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Thursday, March 26th were paid a dividend of $0.3053 per share. This represents a $1.22 annualized dividend and a yield of 2.3%. The ex-dividend date was Thursday, March 26th.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. NewEdge Advisors LLC acquired a new stake in shares of First Trust India NIFTY 50 Equal Weight ETF during the first quarter worth about $127,000. Jane Street Group LLC increased its holdings in First Trust India NIFTY 50 Equal Weight ETF by 348.1% in the 2nd quarter. Jane Street Group LLC now owns 73,205 shares of the company’s stock worth $4,390,000 after buying an additional 56,870 shares during the period. Osaic Holdings Inc. increased its holdings in First Trust India NIFTY 50 Equal Weight ETF by 24.5% in the 2nd quarter. Osaic Holdings Inc. now owns 23,146 shares of the company’s stock worth $1,389,000 after buying an additional 4,558 shares during the period. Geneos Wealth Management Inc. raised its position in First Trust India NIFTY 50 Equal Weight ETF by 8.2% during the 3rd quarter. Geneos Wealth Management Inc. now owns 133,901 shares of the company’s stock worth $7,622,000 after buying an additional 10,154 shares during the last quarter. Finally, Purus Wealth Management LLC raised its position in First Trust India NIFTY 50 Equal Weight ETF by 0.6% during the 3rd quarter. Purus Wealth Management LLC now owns 37,444 shares of the company’s stock worth $2,131,000 after buying an additional 212 shares during the last quarter.

First Trust India NIFTY 50 Equal Weight ETF Company Profile

The First Trust India NIFTY 50 Equal Weight ETF (NFTY) is an exchange-traded fund that is based on the NIFTY 50 Equal Weight index. The fund tracks an equally weighted index of the 50 largest and most liquid Indian equity securities. NFTY was launched on Feb 14, 2012 and is managed by First Trust.