iShares India 50 ETF (NASDAQ:INDY) Shares Down 1.2% – Time to Sell?

iShares India 50 ETF (NASDAQ:INDY)’s stock price were down 1.2% on Wednesday. The company traded as low as $40.33 and last traded at $40.50. 65,834 shares changed hands during trading, a decline of 52% from the average daily volume of 136,127 shares. The stock had previously closed at $40.99.

iShares India 50 ETF Trading Down 1.2%

The stock’s 50-day moving average price is $42.89 and its 200-day moving average price is $42.98. The company has a market capitalization of $490.05 million, a P/E ratio of 23.21 and a beta of 0.43.

Hedge Funds Weigh In On iShares India 50 ETF

A number of large investors have recently bought and sold shares of INDY. Fifth Third Bancorp acquired a new position in iShares India 50 ETF in the first quarter valued at approximately $46,000. Blue Trust Inc. raised its position in shares of iShares India 50 ETF by 127.7% during the 1st quarter. Blue Trust Inc. now owns 4,293 shares of the company’s stock worth $181,000 after purchasing an additional 2,408 shares during the period. Lazard Asset Management LLC raised its position in shares of iShares India 50 ETF by 9.2% during the 1st quarter. Lazard Asset Management LLC now owns 23,002 shares of the company’s stock worth $972,000 after purchasing an additional 1,939 shares during the period. Citadel Advisors LLC lifted its holdings in shares of iShares India 50 ETF by 20.1% in the 2nd quarter. Citadel Advisors LLC now owns 53,107 shares of the company’s stock worth $2,307,000 after purchasing an additional 8,898 shares during the last quarter. Finally, Cypress Capital Group lifted its holdings in shares of iShares India 50 ETF by 6.0% in the 1st quarter. Cypress Capital Group now owns 69,835 shares of the company’s stock worth $2,950,000 after purchasing an additional 3,930 shares during the last quarter.

About iShares India 50 ETF

iShares India 50 ETF, formerly iShares S&P India Nifty 50 Index Fund, seeks investment results that correspond generally to the price and yield performance of the S&P CNX Nifty Index (the Index). The Index measures the equity performance of the top 50 companies by market capitalization that trade in the Indian market. The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index.