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) saw a large growth in short interest during the month of February. As of February 27th, there was short interest totaling 29,429 shares, a growth of 36.4% from the February 12th total of 21,581 shares. Approximately 1.0% of the company’s shares are sold short. Based on an average daily volume of 33,670 shares, the days-to-cover ratio is currently 0.9 days. Based on an average daily volume of 33,670 shares, the days-to-cover ratio is currently 0.9 days. Approximately 1.0% of the company’s shares are sold short.

First Trust India NIFTY 50 Equal Weight ETF Stock Performance

Shares of NASDAQ NFTY traded down $0.47 during midday trading on Friday, reaching $52.69. 39,546 shares of the stock were exchanged, compared to its average volume of 29,417. The stock has a market capitalization of $150.17 million, a P/E ratio of 24.33 and a beta of 0.45. The company has a 50 day simple moving average of $56.99 and a 200 day simple moving average of $57.86. First Trust India NIFTY 50 Equal Weight ETF has a twelve month low of $52.49 and a twelve month high of $60.70.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NFTY. OLD Mission Capital LLC lifted its stake in shares of First Trust India NIFTY 50 Equal Weight ETF by 977.1% in the 4th quarter. OLD Mission Capital LLC now owns 118,992 shares of the company’s stock valued at $6,940,000 after purchasing an additional 107,945 shares during the last quarter. Equitable Holdings Inc. increased its position in shares of First Trust India NIFTY 50 Equal Weight ETF by 22.8% during the 4th quarter. Equitable Holdings Inc. now owns 27,886 shares of the company’s stock worth $1,626,000 after purchasing an additional 5,172 shares during the last quarter. Arax Advisory Partners acquired a new stake in shares of First Trust India NIFTY 50 Equal Weight ETF during the 4th quarter worth about $52,000. Stifel Financial Corp raised its holdings in First Trust India NIFTY 50 Equal Weight ETF by 21.3% in the 4th quarter. Stifel Financial Corp now owns 24,091 shares of the company’s stock valued at $1,405,000 after buying an additional 4,235 shares during the period. Finally, Summit Financial LLC raised its holdings in First Trust India NIFTY 50 Equal Weight ETF by 3.6% in the 4th quarter. Summit Financial LLC now owns 7,646 shares of the company’s stock valued at $446,000 after buying an additional 269 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.