India Internet ETF (NYSEARCA:INQQ) Trading Up 1.3% – Should You Buy?

Shares of India Internet ETF (NYSEARCA:INQQ) were up 1.3% during mid-day trading on Wednesday . The company traded as high as $12.78 and last traded at $12.78. Approximately 25,557 shares were traded during mid-day trading, a decline of 23% from the average daily volume of 33,037 shares. The stock had previously closed at $12.62.

India Internet ETF Trading Up 1.3%

The stock has a market capitalization of $49.20 million, a PE ratio of 57.79 and a beta of 0.66. The stock has a 50 day moving average price of $12.60 and a 200-day moving average price of $14.30.

Hedge Funds Weigh In On India Internet ETF

A number of institutional investors and hedge funds have recently modified their holdings of INQQ. Evergreen Capital Management LLC boosted its stake in shares of India Internet ETF by 114.0% in the 3rd quarter. Evergreen Capital Management LLC now owns 242,125 shares of the company’s stock worth $3,777,000 after buying an additional 128,983 shares during the last quarter. Ameritas Advisory Services LLC purchased a new position in shares of India Internet ETF in the 4th quarter worth $302,000. Quantify Chaos Advisors LLC purchased a new position in shares of India Internet ETF in the 4th quarter worth $237,000. Envestnet Asset Management Inc. bought a new position in India Internet ETF in the 3rd quarter worth $231,000. Finally, Jane Street Group LLC raised its holdings in India Internet ETF by 8.9% in the 4th quarter. Jane Street Group LLC now owns 132,202 shares of the company’s stock worth $1,946,000 after purchasing an additional 10,798 shares during the period.

About India Internet ETF

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.