India Internet ETF (NYSEARCA:INQQ) Sees Significant Growth in Short Interest

India Internet ETF (NYSEARCA:INQQ) was the target of a significant growth in short interest in the month of May. As of May 15th, there was short interest totaling 3,818 shares, a growth of 2,411.8% from the April 30th total of 152 shares. Based on an average trading volume of 19,182 shares, the short-interest ratio is currently 0.2 days. Approximately 0.1% of the shares of the company are sold short.

Hedge Funds Weigh In On India Internet ETF

Several institutional investors have recently bought and sold shares of the stock. Evergreen Capital Management LLC grew its stake in India Internet ETF by 29.3% during the fourth quarter. Evergreen Capital Management LLC now owns 313,174 shares of the company’s stock valued at $4,610,000 after acquiring an additional 71,049 shares in the last quarter. Jane Street Group LLC grew its stake in India Internet ETF by 8.9% during the fourth quarter. Jane Street Group LLC now owns 132,202 shares of the company’s stock valued at $1,946,000 after acquiring an additional 10,798 shares in the last quarter. Cetera Investment Advisers grew its stake in shares of India Internet ETF by 15.7% in the 4th quarter. Cetera Investment Advisers now owns 69,212 shares of the company’s stock worth $1,019,000 after buying an additional 9,415 shares in the last quarter. Royal Bank of Canada grew its stake in shares of India Internet ETF by 3.1% in the 1st quarter. Royal Bank of Canada now owns 49,507 shares of the company’s stock worth $576,000 after buying an additional 1,474 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its stake in shares of India Internet ETF by 13.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 45,278 shares of the company’s stock worth $706,000 after buying an additional 5,349 shares in the last quarter.

India Internet ETF Price Performance

Shares of INQQ stock traded up $0.07 on Wednesday, hitting $12.29. 20,311 shares of the stock traded hands, compared to its average volume of 32,721. The firm has a market cap of $44.49 million, a price-to-earnings ratio of 57.79 and a beta of 0.70. India Internet ETF has a 52 week low of $11.25 and a 52 week high of $16.67. The firm has a 50 day simple moving average of $12.31 and a two-hundred day simple moving average of $13.61.

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.