Short Interest in First Trust India NIFTY 50 Equal Weight ETF (NASDAQ:NFTY) Decreases By 34.2%

First Trust India NIFTY 50 Equal Weight ETF (NASDAQ:NFTY) was the target of a large decline in short interest in March. As of March 31st, there was short interest totaling 18,398 shares, a decline of 34.2% from the March 15th total of 27,976 shares. Approximately 0.6% of the shares of the stock are sold short. Based on an average daily volume of 34,843 shares, the days-to-cover ratio is presently 0.5 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NFTY. OLD Mission Capital LLC boosted its position in First Trust India NIFTY 50 Equal Weight ETF by 977.1% during the fourth quarter. OLD Mission Capital LLC now owns 118,992 shares of the company’s stock worth $6,940,000 after acquiring an additional 107,945 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in First Trust India NIFTY 50 Equal Weight ETF by 190.8% during the second quarter. Geneos Wealth Management Inc. now owns 123,747 shares of the company’s stock worth $7,421,000 after acquiring an additional 81,188 shares during the last quarter. Jane Street Group LLC boosted its position in First Trust India NIFTY 50 Equal Weight ETF by 348.1% during the second quarter. Jane Street Group LLC now owns 73,205 shares of the company’s stock worth $4,390,000 after acquiring an additional 56,870 shares during the last quarter. Flow Traders U.S. LLC acquired a new position in First Trust India NIFTY 50 Equal Weight ETF during the third quarter worth about $1,884,000. Finally, Susquehanna International Group LLP boosted its position in First Trust India NIFTY 50 Equal Weight ETF by 156.3% during the third quarter. Susquehanna International Group LLP now owns 39,978 shares of the company’s stock worth $2,276,000 after acquiring an additional 24,379 shares during the last quarter.

First Trust India NIFTY 50 Equal Weight ETF Stock Down 0.2%

Shares of NFTY stock traded down $0.10 on Thursday, hitting $54.38. The company had a trading volume of 30,269 shares, compared to its average volume of 32,809. The firm has a market cap of $146.83 million, a P/E ratio of 24.33 and a beta of 0.45. The company has a 50-day moving average price of $54.66 and a 200-day moving average price of $56.95. 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 company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Thursday, March 26th were issued a $0.3053 dividend. The ex-dividend date of this dividend was Thursday, March 26th. This represents a $1.22 dividend on an annualized basis and a yield of 2.2%.

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.