India Internet ETF (NYSEARCA:INQQ – Get Free Report) was the recipient of a large growth in short interest in the month of May. As of May 15th, there was short interest totaling 3,818 shares, a growth of 2,411.8% from the April 30th total of 152 shares. Approximately 0.1% of the company’s stock are short sold. Based on an average daily trading volume, of 19,182 shares, the days-to-cover ratio is presently 0.2 days.
India Internet ETF Price Performance
Shares of NYSEARCA INQQ remained flat at $12.30 during midday trading on Friday. 11,455 shares of the stock traded hands, compared to its average volume of 32,633. India Internet ETF has a 12-month low of $11.25 and a 12-month high of $16.67. The company has a 50-day moving average price of $12.31 and a two-hundred day moving average price of $13.59. The stock has a market capitalization of $44.53 million, a PE ratio of 57.79 and a beta of 0.70.
Hedge Funds Weigh In On India Internet ETF
Several institutional investors have recently made changes to their positions in INQQ. Evergreen Capital Management LLC grew its stake in India Internet ETF by 29.3% in the fourth quarter. Evergreen Capital Management LLC now owns 313,174 shares of the company’s stock valued at $4,610,000 after purchasing an additional 71,049 shares during the last quarter. Smith Moore & CO. grew its stake in India Internet ETF by 7.7% in the fourth quarter. Smith Moore & CO. now owns 26,737 shares of the company’s stock valued at $394,000 after purchasing an additional 1,905 shares during the last quarter. Ausdal Financial Partners Inc. grew its stake in India Internet ETF by 8.8% in the fourth quarter. Ausdal Financial Partners Inc. now owns 39,486 shares of the company’s stock valued at $581,000 after purchasing an additional 3,205 shares during the last quarter. Susquehanna International Group LLP purchased a new position in India Internet ETF in the third quarter valued at about $163,000. Finally, Prosperity Financial Group Inc. grew its stake in India Internet ETF by 3.2% in the third quarter. Prosperity Financial Group Inc. now owns 39,388 shares of the company’s stock valued at $614,000 after purchasing an additional 1,211 shares during the last quarter.
India Internet ETF Company Profile
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.
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