Short Interest in First Trust India NIFTY 50 Equal Weight ETF (NASDAQ:NFTY) Grows By 36.4%

First Trust India NIFTY 50 Equal Weight ETF (NASDAQ:NFTY) was the recipient of a significant growth in short interest in February. As of February 27th, there was short interest totaling 29,429 shares, a growth of 36.4% from the February 12th total of 21,581 shares. Based on an average daily volume of 33,670 shares, the short-interest ratio is presently 0.9 days. Currently, 1.0% of the shares of the stock are sold short. Currently, 1.0% of the shares of the stock are sold short. Based on an average daily volume of 33,670 shares, the short-interest ratio is presently 0.9 days.

Hedge Funds Weigh In On First Trust India NIFTY 50 Equal Weight ETF

Hedge funds and other institutional investors have recently modified their holdings of the stock. Sound Income Strategies LLC acquired a new stake in First Trust India NIFTY 50 Equal Weight ETF in the 4th quarter valued at $32,000. Arax Advisory Partners bought a new stake in First Trust India NIFTY 50 Equal Weight ETF in the fourth quarter valued at $52,000. Hazlett Burt & Watson Inc. raised its stake in First Trust India NIFTY 50 Equal Weight ETF by 75.3% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 1,374 shares of the company’s stock worth $80,000 after acquiring an additional 590 shares in the last quarter. NewEdge Advisors LLC acquired a new position in First Trust India NIFTY 50 Equal Weight ETF during the first quarter worth $127,000. Finally, Western Wealth Management LLC bought a new position in shares of First Trust India NIFTY 50 Equal Weight ETF during the fourth quarter valued at $203,000.

First Trust India NIFTY 50 Equal Weight ETF Stock Down 0.9%

NFTY traded down $0.47 during midday trading on Friday, reaching $52.69. 39,546 shares of the company’s stock were exchanged, compared to its average volume of 29,417. The business has a 50-day simple moving average of $56.99 and a two-hundred day simple moving average of $57.85. The firm has a market capitalization of $150.17 million, a price-to-earnings ratio of 24.33 and a beta of 0.45. First Trust India NIFTY 50 Equal Weight ETF has a one year low of $52.49 and a one year high of $60.70.

About First Trust India NIFTY 50 Equal Weight ETF

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.