Short Interest in First Trust India NIFTY 50 Equal Weight ETF (NASDAQ:NFTY) Drops By 56.4%

First Trust India NIFTY 50 Equal Weight ETF (NASDAQ:NFTY) was the recipient of a large drop in short interest in October. As of October 31st, there was short interest totalling 17,300 shares, a drop of 56.4% from the October 15th total of 39,700 shares. Based on an average trading volume of 24,900 shares, the days-to-cover ratio is presently 0.7 days.

Hedge Funds Weigh In On First Trust India NIFTY 50 Equal Weight ETF

Institutional investors and hedge funds have recently made changes to their positions in the company. CNB Bank bought a new position in shares of First Trust India NIFTY 50 Equal Weight ETF during the 3rd quarter worth approximately $42,000. International Assets Investment Management LLC acquired a new position in First Trust India NIFTY 50 Equal Weight ETF in the 2nd quarter valued at $135,000. Wealth Enhancement Advisory Services LLC bought a new position in First Trust India NIFTY 50 Equal Weight ETF during the third quarter worth about $205,000. NBC Securities Inc. boosted its holdings in First Trust India NIFTY 50 Equal Weight ETF by 36.6% in the 3rd quarter. NBC Securities Inc. now owns 3,790 shares of the company’s stock valued at $245,000 after purchasing an additional 1,016 shares during the period. Finally, Gentry Private Wealth LLC acquired a new position in shares of First Trust India NIFTY 50 Equal Weight ETF during the 3rd quarter worth approximately $257,000.

First Trust India NIFTY 50 Equal Weight ETF Stock Performance

Shares of NASDAQ NFTY traded down $0.47 during trading on Wednesday, reaching $57.97. The company had a trading volume of 126,399 shares, compared to its average volume of 28,912. First Trust India NIFTY 50 Equal Weight ETF has a 52 week low of $48.83 and a 52 week high of $65.90. The business’s 50 day moving average price is $62.41 and its 200-day moving average price is $60.87. The stock has a market cap of $272.46 million, a PE ratio of 24.18 and a beta of 0.72.

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.