First Trust India NIFTY 50 Equal Weight ETF (NASDAQ:NFTY) Shares Down 1.6% – Time to Sell?

First Trust India NIFTY 50 Equal Weight ETF (NASDAQ:NFTY)’s share price dropped 1.6% on Thursday . The company traded as low as $53.04 and last traded at $53.29. Approximately 32,128 shares were traded during mid-day trading, an increase of 10% from the average daily volume of 29,207 shares. The stock had previously closed at $54.17.

First Trust India NIFTY 50 Equal Weight ETF Trading Down 1.6%

The firm’s fifty day moving average price is $57.11 and its 200-day moving average price is $57.89. The company has a market cap of $151.88 million, a P/E ratio of 24.33 and a beta of 0.45.

Institutional Trading of First Trust India NIFTY 50 Equal Weight ETF

A number of institutional investors and hedge funds have recently modified their holdings of the company. NewEdge Advisors LLC acquired a new stake in First Trust India NIFTY 50 Equal Weight ETF during the first quarter worth $127,000. Envestnet Asset Management Inc. lifted its holdings in shares of First Trust India NIFTY 50 Equal Weight ETF by 83.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 26,031 shares of the company’s stock worth $1,561,000 after acquiring an additional 11,820 shares during the period. Summit Investment Advisors Inc. lifted its holdings in shares of First Trust India NIFTY 50 Equal Weight ETF by 8.0% during the 1st quarter. Summit Investment Advisors Inc. now owns 13,182 shares of the company’s stock worth $735,000 after acquiring an additional 974 shares during the period. Cetera Investment Advisers boosted its position in shares of First Trust India NIFTY 50 Equal Weight ETF by 27.3% during the 2nd quarter. Cetera Investment Advisers now owns 103,517 shares of the company’s stock valued at $6,208,000 after acquiring an additional 22,190 shares in the last quarter. Finally, Archer Investment Corp increased its stake in First Trust India NIFTY 50 Equal Weight ETF by 4.4% in the second quarter. Archer Investment Corp now owns 143,475 shares of the company’s stock valued at $8,604,000 after acquiring an additional 6,023 shares during the period.

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.