Short Interest in First Trust India NIFTY 50 Equal Weight ETF (NASDAQ:NFTY) Declines By 60.9%

First Trust India NIFTY 50 Equal Weight ETF (NASDAQ:NFTY) saw a large drop in short interest in January. As of January 31st, there was short interest totalling 2,700 shares, a drop of 60.9% from the January 15th total of 6,900 shares. Based on an average daily trading volume, of 39,100 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Investors Weigh In On First Trust India NIFTY 50 Equal Weight ETF

Several hedge funds have recently made changes to their positions in the company. CNB Bank purchased a new position in shares of First Trust India NIFTY 50 Equal Weight ETF during the third quarter valued at $42,000. Coppell Advisory Solutions LLC increased its position in First Trust India NIFTY 50 Equal Weight ETF by 190.4% during the 4th quarter. Coppell Advisory Solutions LLC now owns 938 shares of the company’s stock valued at $52,000 after purchasing an additional 615 shares during the period. Kestra Investment Management LLC purchased a new position in First Trust India NIFTY 50 Equal Weight ETF during the 4th quarter valued at about $61,000. Harbour Investments Inc. raised its holdings in shares of First Trust India NIFTY 50 Equal Weight ETF by 3,516.7% in the 4th quarter. Harbour Investments Inc. now owns 1,085 shares of the company’s stock valued at $61,000 after purchasing an additional 1,055 shares in the last quarter. Finally, PNC Financial Services Group Inc. bought a new position in shares of First Trust India NIFTY 50 Equal Weight ETF during the fourth quarter valued at approximately $153,000.

First Trust India NIFTY 50 Equal Weight ETF Price Performance

Shares of NFTY stock opened at $54.22 on Friday. The company has a market capitalization of $257.55 million, a P/E ratio of 24.18 and a beta of 0.72. The company’s 50-day simple moving average is $55.86 and its two-hundred day simple moving average is $59.61. First Trust India NIFTY 50 Equal Weight ETF has a one year low of $53.90 and a one year high of $65.90.

First Trust India NIFTY 50 Equal Weight ETF Dividend Announcement

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

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.