Invesco India ETF (NYSEARCA:PIN) Stock Price Up 0.4% – Here’s Why

Invesco India ETF (NYSEARCA:PIN)’s share price rose 0.4% during trading on Wednesday . The company traded as high as $20.9150 and last traded at $20.84. Approximately 25,180 shares were traded during trading, a decline of 50% from the average daily volume of 50,088 shares. The stock had previously closed at $20.75.

Invesco India ETF Stock Performance

The stock has a market cap of $159.54 million, a P/E ratio of 26.32 and a beta of 0.47. The business has a 50 day simple moving average of $21.06 and a 200-day simple moving average of $22.58.

Hedge Funds Weigh In On Invesco India ETF

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Cetera Investment Advisers grew its position in Invesco India ETF by 8.4% during the first quarter. Cetera Investment Advisers now owns 73,686 shares of the company’s stock valued at $1,767,000 after buying an additional 5,686 shares during the period. Checchi Capital Advisers LLC raised its position in Invesco India ETF by 3.3% in the first quarter. Checchi Capital Advisers LLC now owns 19,597 shares of the company’s stock worth $470,000 after acquiring an additional 622 shares during the period. Fifth Third Bancorp bought a new stake in Invesco India ETF in the first quarter worth about $25,000. Kestra Advisory Services LLC boosted its stake in Invesco India ETF by 230.9% in the first quarter. Kestra Advisory Services LLC now owns 23,028 shares of the company’s stock valued at $552,000 after acquiring an additional 16,069 shares during the last quarter. Finally, Clare Market Investments LLC purchased a new position in Invesco India ETF in the first quarter valued at about $625,000. 40.83% of the stock is owned by hedge funds and other institutional investors.

Invesco India ETF Company Profile

PowerShares India Portfolio (the Fund) is based on the Indus India Index (Index). The Fund seeks to achieve its investment objective by investing substantially all of its assets in a wholly-owned subsidiary located in the Republic of Mauritius (the Subsidiary), which in turn invests at least 90% of its total assets in securities of Indian companies that consists of the Index, as well as American depositary receipts(ADR) and global depositary receipts (GDR) based on the securities in the Index. The Index is designed to represent the segment of the Indian equity markets.