India Internet ETF (NYSEARCA:INQQ – Get Free Report) saw a large drop in short interest in the month of June. As of June 30th, there was short interest totaling 44,520 shares, a drop of 63.6% from the June 15th total of 122,350 shares. Based on an average trading volume of 59,943 shares, the days-to-cover ratio is currently 0.7 days. Currently, 1.3% of the shares of the company are short sold.
India Internet ETF Price Performance
Shares of NYSEARCA:INQQ traded down $0.07 during trading on Tuesday, reaching $13.04. The company had a trading volume of 4,723 shares, compared to its average volume of 33,662. The firm has a market capitalization of $44.21 million, a price-to-earnings ratio of 57.79 and a beta of 0.66. The stock’s fifty day moving average price is $12.50 and its 200 day moving average price is $12.94. India Internet ETF has a fifty-two week low of $11.25 and a fifty-two week high of $16.67.
Hedge Funds Weigh In On India Internet ETF
Several institutional investors have recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new stake in shares of India Internet ETF in the second quarter valued at about $81,000. Ameriprise Financial Inc. raised its holdings in India Internet ETF by 6.1% during the second quarter. Ameriprise Financial Inc. now owns 39,929 shares of the company’s stock worth $663,000 after purchasing an additional 2,304 shares in the last quarter. Evergreen Capital Management LLC acquired a new stake in India Internet ETF in the second quarter valued at about $1,878,000. Osaic Holdings Inc. lifted its position in India Internet ETF by 21.5% in the second quarter. Osaic Holdings Inc. now owns 6,382 shares of the company’s stock valued at $106,000 after purchasing an additional 1,130 shares during the period. Finally, Envestnet Asset Management Inc. purchased a new stake in India Internet ETF in the 3rd quarter valued at approximately $231,000.
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.
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