First Trust India NIFTY 50 Equal Weight ETF (NASDAQ:NFTY) Sees Large Decline in Short Interest

First Trust India NIFTY 50 Equal Weight ETF (NASDAQ:NFTY) was the recipient of a significant decline in short interest during the month of March. As of March 31st, there was short interest totaling 18,398 shares, a decline of 34.2% from the March 15th total of 27,976 shares. Based on an average daily volume of 34,843 shares, the days-to-cover ratio is currently 0.5 days. Currently, 0.6% of the company’s stock are short sold.

First Trust India NIFTY 50 Equal Weight ETF Stock Performance

Shares of NFTY stock traded up $0.49 during mid-day trading on Tuesday, hitting $54.30. The company’s stock had a trading volume of 11,623 shares, compared to its average volume of 32,027. First Trust India NIFTY 50 Equal Weight ETF has a 52-week low of $49.62 and a 52-week high of $60.70. The business has a 50-day moving average price of $54.79 and a 200 day moving average price of $56.98. The stock has a market cap of $146.61 million, a price-to-earnings ratio of 24.33 and a beta of 0.45.

First Trust India NIFTY 50 Equal Weight ETF Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Thursday, March 26th were paid a $0.3053 dividend. The ex-dividend date was Thursday, March 26th. This represents a $1.22 annualized dividend and a dividend yield of 2.2%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Geneos Wealth Management Inc. raised its stake in shares of First Trust India NIFTY 50 Equal Weight ETF by 190.8% in the second quarter. Geneos Wealth Management Inc. now owns 123,747 shares of the company’s stock worth $7,421,000 after purchasing an additional 81,188 shares during the last quarter. Crumly & Associates Inc. raised its stake in shares of First Trust India NIFTY 50 Equal Weight ETF by 5.2% in the third quarter. Crumly & Associates Inc. now owns 184,439 shares of the company’s stock worth $10,498,000 after purchasing an additional 9,112 shares during the last quarter. Clear Creek Financial Management LLC raised its stake in shares of First Trust India NIFTY 50 Equal Weight ETF by 1.5% in the fourth quarter. Clear Creek Financial Management LLC now owns 19,034 shares of the company’s stock worth $1,110,000 after purchasing an additional 278 shares during the last quarter. Chesley Taft & Associates LLC raised its stake in shares of First Trust India NIFTY 50 Equal Weight ETF by 35.1% in the fourth quarter. Chesley Taft & Associates LLC now owns 7,700 shares of the company’s stock worth $449,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Ameritas Investment Partners Inc. grew its holdings in shares of First Trust India NIFTY 50 Equal Weight ETF by 26.0% in the third quarter. Ameritas Investment Partners Inc. now owns 17,502 shares of the company’s stock worth $996,000 after acquiring an additional 3,615 shares during the period.

First Trust India NIFTY 50 Equal Weight ETF Company Profile

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.