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

First Trust India NIFTY 50 Equal Weight ETF (NASDAQ:NFTY) saw a significant decline in short interest during the month of January. As of January 15th, there was short interest totalling 9,200 shares, a decline of 67.8% from the December 31st total of 28,600 shares. Based on an average trading volume of 32,800 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Marmo Financial Group LLC boosted its holdings in shares of First Trust India NIFTY 50 Equal Weight ETF by 77.7% during the third quarter. Marmo Financial Group LLC now owns 186,015 shares of the company’s stock valued at $12,061,000 after acquiring an additional 81,351 shares during the period. Great Valley Advisor Group Inc. boosted its stake in First Trust India NIFTY 50 Equal Weight ETF by 1.5% during the third quarter. Great Valley Advisor Group Inc. now owns 160,414 shares of the company’s stock valued at $10,401,000 after buying an additional 2,447 shares in the last quarter. Crumly & Associates Inc. grew its position in First Trust India NIFTY 50 Equal Weight ETF by 6.9% in the third quarter. Crumly & Associates Inc. now owns 148,788 shares of the company’s stock worth $9,647,000 after buying an additional 9,628 shares during the last quarter. StoneX Group Inc. raised its position in shares of First Trust India NIFTY 50 Equal Weight ETF by 12.7% during the third quarter. StoneX Group Inc. now owns 141,786 shares of the company’s stock worth $9,193,000 after purchasing an additional 16,003 shares during the period. Finally, Archer Investment Corp lifted its position in shares of First Trust India NIFTY 50 Equal Weight ETF by 9.7% in the 4th quarter. Archer Investment Corp now owns 128,502 shares of the company’s stock valued at $7,195,000 after acquiring an additional 11,404 shares in the last quarter.

First Trust India NIFTY 50 Equal Weight ETF Stock Performance

NASDAQ NFTY traded down $0.27 during trading hours on Tuesday, hitting $54.16. 23,648 shares of the company’s stock were exchanged, compared to its average volume of 33,815. The firm has a market capitalization of $257.26 million, a P/E ratio of 24.18 and a beta of 0.72. The business’s 50 day moving average is $57.01 and its 200-day moving average is $60.26. First Trust India NIFTY 50 Equal Weight ETF has a 12-month low of $53.90 and a 12-month high of $65.90.

First Trust India NIFTY 50 Equal Weight ETF Announces Dividend

The firm also recently announced a dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were issued a dividend of $0.7608 per share. The ex-dividend date of this dividend was Friday, December 13th.

About First Trust India NIFTY 50 Equal Weight ETF

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.