India Internet ETF (NYSEARCA:INQQ) Stock Price Up 0.7% – Here’s Why

Shares of India Internet ETF (NYSEARCA:INQQ) shot up 0.7% on Monday . The stock traded as high as $13.95 and last traded at $13.94. 17,521 shares changed hands during trading, a decline of 60% from the average session volume of 43,293 shares. The stock had previously closed at $13.84.

India Internet ETF Price Performance

The stock has a fifty day simple moving average of $14.53 and a 200-day simple moving average of $15.45. The company has a market capitalization of $52.55 million, a price-to-earnings ratio of 57.79 and a beta of 0.60.

India Internet ETF Dividend Announcement

The company also recently announced an annual dividend, which was paid on Wednesday, December 31st. Investors of record on Tuesday, December 30th were paid a $0.3283 dividend. This represents a dividend yield of 223.0%. The ex-dividend date was Tuesday, December 30th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Daymark Wealth Partners LLC acquired a new position in shares of India Internet ETF in the second quarter worth about $168,000. Ethos Financial Group LLC increased its stake in shares of India Internet ETF by 11.5% in the 2nd quarter. Ethos Financial Group LLC now owns 34,557 shares of the company’s stock valued at $574,000 after purchasing an additional 3,577 shares in the last quarter. Cetera Investment Advisers raised its holdings in India Internet ETF by 10.5% in the 2nd quarter. Cetera Investment Advisers now owns 57,303 shares of the company’s stock worth $951,000 after purchasing an additional 5,444 shares during the period. MAI Capital Management purchased a new position in India Internet ETF during the second quarter worth approximately $51,000. Finally, Smith Moore & CO. grew its holdings in India Internet ETF by 6.8% in the second quarter. Smith Moore & CO. now owns 22,295 shares of the company’s stock valued at $370,000 after purchasing an additional 1,410 shares during the period.

About India Internet ETF

The India Internet & Ecommerce ETF (INQQ) is an exchange-traded fund that is based on the INQQ The India Internet & Ecommerce index. The fund tracks an index of companies centered around the internet and e-commerce technology in India. Securities are selected and weighted by market-cap. INQQ was launched on Apr 6, 2022 and is managed by India.