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

First Trust India NIFTY 50 Equal Weight ETF (NASDAQ:NFTY) was the target of a significant growth in short interest during the month of September. As of September 30th, there was short interest totaling 49,332 shares, a growth of 95.2% from the September 15th total of 25,271 shares. Based on an average trading volume of 23,199 shares, the short-interest ratio is currently 2.1 days. Approximately 2.5% of the shares of the stock are short sold.

Institutional Investors Weigh In On First Trust India NIFTY 50 Equal Weight ETF

Several institutional investors and hedge funds have recently bought and sold shares of NFTY. Private Client Services LLC purchased a new position in shares of First Trust India NIFTY 50 Equal Weight ETF in the 3rd quarter valued at approximately $1,314,000. Crumly & Associates Inc. increased its position in shares of First Trust India NIFTY 50 Equal Weight ETF by 4.0% during the second quarter. Crumly & Associates Inc. now owns 293,242 shares of the company’s stock valued at $15,775,000 after acquiring an additional 11,233 shares in the last quarter. Gateway Wealth Partners LLC boosted its position in shares of First Trust India NIFTY 50 Equal Weight ETF by 111.4% during the first quarter. Gateway Wealth Partners LLC now owns 8,576 shares of the company’s stock valued at $442,000 after buying an additional 4,519 shares during the last quarter. Merkkuri Wealth Advisors LLC raised its holdings in shares of First Trust India NIFTY 50 Equal Weight ETF by 2.6% during the first quarter. Merkkuri Wealth Advisors LLC now owns 35,391 shares of the company’s stock valued at $1,823,000 after purchasing an additional 896 shares during the last quarter. Finally, Pine Valley Investments Ltd Liability Co lifted its holdings in shares of First Trust India NIFTY 50 Equal Weight ETF by 4.4% during the 1st quarter. Pine Valley Investments Ltd Liability Co now owns 20,053 shares of the company’s stock valued at $1,033,000 after buying an additional 850 shares during the period.

First Trust India NIFTY 50 Equal Weight ETF Price Performance

NASDAQ NFTY traded up $0.88 during trading on Thursday, hitting $51.98. 6,156 shares of the company’s stock traded hands, compared to its average volume of 28,907. The stock has a fifty day moving average of $52.95 and a two-hundred day moving average of $53.26. First Trust India NIFTY 50 Equal Weight ETF has a 12-month low of $49.25 and a 12-month high of $60.70. The firm has a market cap of $101.37 million, a P/E ratio of 24.33 and a beta of 0.46.

About First Trust India NIFTY 50 Equal Weight ETF

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.