Invesco India ETF (NYSEARCA:PIN) Trading Up 0.4% – Here’s Why

Invesco India ETF (NYSEARCA:PIN)’s stock price was up 0.4% during mid-day trading on Wednesday . The stock traded as high as $20.9150 and last traded at $20.84. Approximately 25,180 shares traded hands during mid-day trading, a decline of 50% from the average daily volume of 50,088 shares. The stock had previously closed at $20.75.

Invesco India ETF Stock Up 0.4%

The stock has a market cap of $158.18 million, a price-to-earnings ratio of 26.32 and a beta of 0.47. The company’s 50-day moving average is $21.05 and its 200-day moving average is $22.62.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Cetera Investment Advisers raised its position in Invesco India ETF by 8.4% in the first quarter. Cetera Investment Advisers now owns 73,686 shares of the company’s stock worth $1,767,000 after purchasing an additional 5,686 shares in the last quarter. Checchi Capital Advisers LLC grew its stake in Invesco India ETF by 3.3% during the first quarter. Checchi Capital Advisers LLC now owns 19,597 shares of the company’s stock worth $470,000 after buying an additional 622 shares during the last quarter. Fifth Third Bancorp bought a new stake in Invesco India ETF during the first quarter worth about $25,000. Kestra Advisory Services LLC grew its stake in Invesco India ETF by 230.9% during the first quarter. Kestra Advisory Services LLC now owns 23,028 shares of the company’s stock worth $552,000 after buying an additional 16,069 shares during the last quarter. Finally, Clare Market Investments LLC bought a new stake in Invesco India ETF during the first quarter worth about $625,000. Institutional investors and hedge funds own 40.83% of the company’s stock.

About Invesco India ETF

PowerShares India Portfolio (the Fund) is based on the Indus India Index (Index). The Fund seeks to achieve its investment objective by investing substantially all of its assets in a wholly-owned subsidiary located in the Republic of Mauritius (the Subsidiary), which in turn invests at least 90% of its total assets in securities of Indian companies that consists of the Index, as well as American depositary receipts(ADR) and global depositary receipts (GDR) based on the securities in the Index. The Index is designed to represent the segment of the Indian equity markets.