Matthews India Active ETF (NYSEARCA:INDE) Sees Significant Decrease in Short Interest

Matthews India Active ETF (NYSEARCA:INDE) was the target of a significant decrease in short interest in July. As of July 15th, there was short interest totaling 38,408 shares, a decrease of 69.6% from the June 30th total of 126,315 shares. Currently, 6.4% of the company’s stock are sold short. Based on an average daily volume of 8,704 shares, the days-to-cover ratio is presently 4.4 days.

Matthews India Active ETF Stock Performance

INDE stock opened at $28.83 on Friday. The stock has a market cap of $17.30 million, a P/E ratio of 32.13 and a beta of 0.29. The firm has a 50 day simple moving average of $28.42 and a 200 day simple moving average of $28.10. Matthews India Active ETF has a 52 week low of $24.98 and a 52 week high of $31.44.

Institutional Investors Weigh In On Matthews India Active ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Harbour Wealth Management Group Inc. purchased a new position in shares of Matthews India Active ETF during the 4th quarter valued at $648,000. Navis Wealth Advisors LLC increased its stake in shares of Matthews India Active ETF by 11.6% in the third quarter. Navis Wealth Advisors LLC now owns 15,596 shares of the company’s stock worth $459,000 after acquiring an additional 1,620 shares during the last quarter. Finally, Susquehanna International Group LLP purchased a new stake in shares of Matthews India Active ETF during the third quarter worth $290,000.

About Matthews India Active ETF

The Matthews India Active ETF (INDE) is an exchange-traded fund that mostly invests in total market equity. The fund actively selects Indian companies capable of sustainable growth based on fundamentals. The fund follows an all-cap strategy while implementing a fundamental bottom-up approach. INDE was launched on Sep 22, 2023 and is issued by Matthews.