First Trust India NIFTY 50 Equal Weight ETF (NASDAQ:NFTY) Stock Price Down 1.1% – Should You Sell?

First Trust India NIFTY 50 Equal Weight ETF (NASDAQ:NFTY) fell 1.1% on Friday . The stock traded as low as $52.01 and last traded at $52.22. 20,981 shares were traded during trading, a decline of 38% from the average session volume of 33,835 shares. The stock had previously closed at $52.80.

First Trust India NIFTY 50 Equal Weight ETF Stock Down 1.1%

The company has a market capitalization of $135.77 million, a price-to-earnings ratio of 24.33 and a beta of 0.45. The business has a 50-day moving average price of $53.12 and a two-hundred day moving average price of $55.71.

First Trust India NIFTY 50 Equal Weight ETF Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Thursday, March 26th were given a dividend of $0.3053 per share. The ex-dividend date of this dividend was Thursday, March 26th. This represents a $1.22 annualized dividend and a dividend yield of 2.3%.

Hedge Funds Weigh In On First Trust India NIFTY 50 Equal Weight ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. OLD Mission Capital LLC lifted its stake in shares of First Trust India NIFTY 50 Equal Weight ETF by 977.1% during the 4th quarter. OLD Mission Capital LLC now owns 118,992 shares of the company’s stock valued at $6,940,000 after buying an additional 107,945 shares in the last quarter. Jane Street Group LLC boosted its position in shares of First Trust India NIFTY 50 Equal Weight ETF by 348.1% during the 2nd quarter. Jane Street Group LLC now owns 73,205 shares of the company’s stock valued at $4,390,000 after acquiring an additional 56,870 shares during the last quarter. Flow Traders U.S. LLC purchased a new position in First Trust India NIFTY 50 Equal Weight ETF in the 3rd quarter worth approximately $1,884,000. Susquehanna International Group LLP grew its position in First Trust India NIFTY 50 Equal Weight ETF by 156.3% in the third quarter. Susquehanna International Group LLP now owns 39,978 shares of the company’s stock worth $2,276,000 after acquiring an additional 24,379 shares in the last quarter. Finally, Ameriprise Financial Inc. bought a new position in shares of First Trust India NIFTY 50 Equal Weight ETF during the 3rd quarter valued at about $1,034,000.

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.