Short Interest in First Trust India NIFTY 50 Equal Weight ETF (NASDAQ:NFTY) Expands By 705.6%

First Trust India NIFTY 50 Equal Weight ETF (NASDAQ:NFTY) was the recipient of a significant growth in short interest in 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. Based on an average daily volume of 20,834 shares, the days-to-cover ratio is currently 3.7 days. Currently, 3.1% of the shares of the stock are sold short.

First Trust India NIFTY 50 Equal Weight ETF Stock Performance

NASDAQ NFTY opened at $52.67 on Friday. The business has a fifty day moving average price of $53.34 and a 200 day moving average price 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 cap of $129.04 million, a P/E ratio of 24.33 and a beta of 0.45.

Institutional Investors Weigh In On First Trust India NIFTY 50 Equal Weight ETF

A number of hedge funds have recently modified their holdings of the business. OLD Mission Capital LLC lifted its stake in shares of First Trust India NIFTY 50 Equal Weight ETF by 977.1% in the fourth quarter. OLD Mission Capital LLC now owns 118,992 shares of the company’s stock worth $6,940,000 after buying an additional 107,945 shares in the last quarter. Jane Street Group LLC grew its stake in First Trust India NIFTY 50 Equal Weight ETF by 348.1% during the 2nd quarter. Jane Street Group LLC now owns 73,205 shares of the company’s stock valued at $4,390,000 after acquiring an additional 56,870 shares in the last quarter. Flow Traders U.S. LLC acquired a new stake in First Trust India NIFTY 50 Equal Weight ETF in the 3rd quarter valued at about $1,884,000. Susquehanna International Group LLP raised its holdings in First Trust India NIFTY 50 Equal Weight ETF by 156.3% in the 3rd quarter. Susquehanna International Group LLP now owns 39,978 shares of the company’s stock valued at $2,276,000 after acquiring an additional 24,379 shares during the last quarter. Finally, Ameriprise Financial Inc. acquired a new stake in First Trust India NIFTY 50 Equal Weight ETF in the 3rd quarter valued at about $1,034,000.

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.