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

First Trust India NIFTY 50 Equal Weight ETF (NASDAQ:NFTY) saw a large growth in short interest in the month of July. As of July 15th, there was short interest totaling 76,635 shares, a growth of 705.6% from the June 30th total of 9,513 shares. Currently, 3.1% of the company’s shares are short sold. Based on an average daily volume of 20,834 shares, the days-to-cover ratio is presently 3.7 days.

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

Several institutional investors have recently added to or reduced their stakes in NFTY. Moors & Cabot Inc. grew its position in shares of First Trust India NIFTY 50 Equal Weight ETF by 1.4% during 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 during the period. Summit Financial LLC boosted its position in shares of First Trust India NIFTY 50 Equal Weight ETF by 3.6% during the 4th quarter. Summit Financial LLC now owns 7,646 shares of the company’s stock worth $446,000 after purchasing an additional 269 shares in the last quarter. Clear Creek Financial Management LLC boosted its position in shares of First Trust India NIFTY 50 Equal Weight ETF by 1.5% during the 4th quarter. Clear Creek Financial Management LLC now owns 19,034 shares of the company’s stock worth $1,110,000 after purchasing an additional 278 shares in the last quarter. NewEdge Advisors LLC grew its stake in shares of 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 valued at $158,000 after buying an additional 348 shares during the period. Finally, Merkkuri Wealth Advisors LLC grew its stake in shares of 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 valued at $2,012,000 after buying an additional 421 shares during the period.

First Trust India NIFTY 50 Equal Weight ETF Price Performance

Shares of First Trust India NIFTY 50 Equal Weight ETF stock traded up $0.17 on Friday, hitting $52.67. 58,838 shares of the company’s stock traded hands, compared to its average volume of 32,271. The company has a fifty day moving average of $53.34 and a two-hundred day moving average of $54.53. First Trust India NIFTY 50 Equal Weight ETF has a one year low of $49.62 and a one year high of $60.70. The company has a market capitalization of $129.04 million, a price-to-earnings ratio of 24.33 and a beta of 0.45.

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.