iShares India 50 ETF (NASDAQ:INDY) Shares Gap Down – Should You Sell?

Shares of iShares India 50 ETF (NASDAQ:INDY) gapped down prior to trading on Tuesday . The stock had previously closed at $52.28, but opened at $48.01. iShares India 50 ETF shares last traded at $48.0050, with a volume of 101,538 shares.

iShares India 50 ETF Stock Performance

The company has a 50 day simple moving average of $52.99 and a 200 day simple moving average of $52.70. The company has a market capitalization of $622.61 million, a PE ratio of 23.21 and a beta of 0.45.

iShares India 50 ETF Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Friday, December 19th. Shareholders of record on Tuesday, December 16th will be issued a $3.9951 dividend. The ex-dividend date is Tuesday, December 16th. This represents a yield of 1,662.0%.

Institutional Investors Weigh In On iShares India 50 ETF

A number of hedge funds have recently modified their holdings of INDY. Activest Wealth Management acquired a new position in shares of iShares India 50 ETF during the 2nd quarter worth approximately $25,000. First Horizon Corp acquired a new position in iShares India 50 ETF during the third quarter worth $44,000. Advisory Services Network LLC purchased a new stake in iShares India 50 ETF in the 3rd quarter valued at $55,000. Farther Finance Advisors LLC increased its stake in shares of iShares India 50 ETF by 36.2% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,316 shares of the company’s stock worth $72,000 after acquiring an additional 350 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in shares of iShares India 50 ETF by 11.9% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,859 shares of the company’s stock worth $95,000 after acquiring an additional 198 shares during the period.

iShares India 50 ETF Company Profile

iShares India 50 ETF, formerly iShares S&P India Nifty 50 Index Fund, seeks investment results that correspond generally to the price and yield performance of the S&P CNX Nifty Index (the Index). The Index measures the equity performance of the top 50 companies by market capitalization that trade in the Indian market.