India Internet ETF (NYSEARCA:INQQ) Trading Down 0.4% – Here’s Why

India Internet ETF (NYSEARCA:INQQ) shares traded down 0.4% during mid-day trading on Monday . The stock traded as low as $13.92 and last traded at $13.92. 13,163 shares traded hands during trading, a decline of 56% from the average daily volume of 30,075 shares. The stock had previously closed at $13.98.

India Internet ETF Trading Down 1.3%

The firm has a market cap of $45.98 million, a price-to-earnings ratio of 57.79 and a beta of 0.66. The stock has a fifty day moving average price of $13.24 and a 200 day moving average price of $12.77.

Hedge Funds Weigh In On India Internet ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ausdal Financial Partners Inc. lifted its stake in shares of India Internet ETF by 8.8% in the fourth quarter. Ausdal Financial Partners Inc. now owns 39,486 shares of the company’s stock worth $581,000 after buying an additional 3,205 shares during the last quarter. Susquehanna International Group LLP acquired a new position in India Internet ETF in the 3rd quarter valued at $163,000. Prosperity Financial Group Inc. grew its stake in India Internet ETF by 3.2% in the 3rd quarter. Prosperity Financial Group Inc. now owns 39,388 shares of the company’s stock valued at $614,000 after buying an additional 1,211 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in India Internet ETF by 13.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 45,278 shares of the company’s stock worth $706,000 after acquiring an additional 5,349 shares during the period. Finally, Envestnet Asset Management Inc. bought a new position in India Internet ETF in the 3rd quarter worth $231,000.

India Internet ETF Company Profile

The India Internet & Ecommerce ETF (INQQ) is an exchange-traded fund that is based on the INQQ The India Internet & Ecommerce index. The fund tracks an index of companies centered around the internet and e-commerce technology in India. Securities are selected and weighted by market-cap. INQQ was launched on Apr 6, 2022 and is managed by India.