Short Interest in India Internet ETF (NYSEARCA:INQQ) Decreases By 63.6%

India Internet ETF (NYSEARCA:INQQ) saw a significant decline in short interest in June. As of June 30th, there was short interest totaling 44,520 shares, a decline of 63.6% from the June 15th total of 122,350 shares. Approximately 1.3% of the shares of the stock are short sold. Based on an average daily volume of 59,943 shares, the days-to-cover ratio is presently 0.7 days.

Hedge Funds Weigh In On India Internet ETF

Several hedge funds have recently added to or reduced their stakes in INQQ. Raymond James Financial Inc. purchased a new stake in shares of India Internet ETF in the second quarter valued at about $81,000. Osaic Holdings Inc. raised its position in shares of India Internet ETF by 21.5% during 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 during the last quarter. Susquehanna International Group LLP purchased a new stake in India Internet ETF in the 3rd quarter valued at approximately $163,000. Envestnet Asset Management Inc. purchased a new stake in India Internet ETF in the 3rd quarter valued at approximately $231,000. Finally, Quantify Chaos Advisors LLC acquired a new stake in India Internet ETF during the 4th quarter valued at $237,000.

India Internet ETF Price Performance

India Internet ETF stock traded up $0.14 during trading hours on Wednesday, hitting $13.18. The stock had a trading volume of 24,467 shares, compared to its average volume of 33,593. India Internet ETF has a 1-year low of $11.25 and a 1-year high of $16.67. The stock has a market capitalization of $44.68 million, a price-to-earnings ratio of 57.79 and a beta of 0.66. The stock’s fifty day moving average is $12.50 and its two-hundred day moving average is $12.94.

About India Internet ETF

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.