Short Interest in India Internet ETF (NYSEARCA:INQQ) Expands By 3,150.1%

India Internet ETF (NYSEARCA:INQQ) was the target of a significant growth in short interest during the month of May. As of May 29th, there was short interest totaling 124,089 shares, a growth of 3,150.1% from the May 14th total of 3,818 shares. Currently, 3.4% of the company’s stock are short sold. Based on an average daily trading volume, of 38,501 shares, the days-to-cover ratio is presently 3.2 days.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in INQQ. Raymond James Financial Inc. purchased a new position in India Internet ETF during the second quarter valued at $81,000. Ameriprise Financial Inc. increased its holdings in shares of India Internet ETF by 6.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 39,929 shares of the company’s stock worth $663,000 after purchasing an additional 2,304 shares in the last quarter. Evergreen Capital Management LLC bought a new stake in shares of India Internet ETF in the 2nd quarter worth $1,878,000. Osaic Holdings Inc. increased its holdings in shares of India Internet ETF by 21.5% in the 2nd quarter. Osaic Holdings Inc. now owns 6,382 shares of the company’s stock worth $106,000 after purchasing an additional 1,130 shares in the last quarter. Finally, Envestnet Asset Management Inc. bought a new stake in shares of India Internet ETF in the 3rd quarter worth $231,000.

India Internet ETF Trading Up 0.9%

NYSEARCA:INQQ traded up $0.11 during trading hours on Tuesday, reaching $11.95. 16,904 shares of the company traded hands, compared to its average volume of 31,715. The business’s 50-day moving average price is $12.35 and its two-hundred day moving average price is $13.38. The stock has a market capitalization of $43.26 million, a P/E ratio of 57.79 and a beta of 0.68. India Internet ETF has a 1 year low of $11.25 and a 1 year high of $16.67.

India Internet ETF Company Profile

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.