First Trust India NIFTY 50 Equal Weight ETF (NASDAQ:NFTY) Sees Large Decrease in Short Interest

First Trust India NIFTY 50 Equal Weight ETF (NASDAQ:NFTY) was the target of a large decline in short interest in April. As of April 30th, there was short interest totaling 11,611 shares, a decline of 59.1% from the April 15th total of 28,378 shares. Currently, 0.4% of the company’s stock are sold short. Based on an average trading volume of 31,373 shares, the days-to-cover ratio is currently 0.4 days.

First Trust India NIFTY 50 Equal Weight ETF Stock Performance

Shares of NASDAQ:NFTY traded down $0.30 during midday trading on Friday, hitting $52.91. 24,393 shares of the company’s stock traded hands, compared to its average volume of 34,835. The company has a market cap of $137.57 million, a PE ratio of 24.33 and a beta of 0.46. The firm’s fifty day moving average price is $53.21 and its two-hundred day moving average price is $56.34. First Trust India NIFTY 50 Equal Weight ETF has a twelve month low of $49.62 and a twelve month high of $60.70.

First Trust India NIFTY 50 Equal Weight ETF Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Thursday, March 26th were issued a dividend of $0.3053 per share. The ex-dividend date was Thursday, March 26th. This represents a $1.22 annualized dividend and a dividend yield of 2.3%.

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

Several hedge funds and other institutional investors have recently made changes to their positions in NFTY. Moors & Cabot Inc. lifted its holdings in First Trust India NIFTY 50 Equal Weight ETF by 1.4% in the 4th quarter. Moors & Cabot Inc. now owns 12,396 shares of the company’s stock worth $723,000 after buying an additional 172 shares in the last quarter. Summit Financial LLC lifted its holdings in First Trust India NIFTY 50 Equal Weight ETF by 3.6% in the 4th quarter. Summit Financial LLC now owns 7,646 shares of the company’s stock worth $446,000 after buying an additional 269 shares in the last quarter. Clear Creek Financial Management LLC lifted its holdings in First Trust India NIFTY 50 Equal Weight ETF by 1.5% in the 4th quarter. Clear Creek Financial Management LLC now owns 19,034 shares of the company’s stock worth $1,110,000 after buying an additional 278 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in First Trust India NIFTY 50 Equal Weight ETF by 15.3% in the 2nd quarter. NewEdge Advisors LLC now owns 2,627 shares of the company’s stock worth $158,000 after buying an additional 348 shares in the last quarter. Finally, Merkkuri Wealth Advisors LLC lifted its holdings in First Trust India NIFTY 50 Equal Weight ETF by 1.2% in the 4th quarter. Merkkuri Wealth Advisors LLC now owns 34,495 shares of the company’s stock worth $2,012,000 after buying an additional 421 shares in the last quarter.

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.