India Internet ETF (NYSEARCA:INQQ – Get Free Report) saw a significant increase in short interest in the month of May. As of May 29th, there was short interest totaling 124,089 shares, an increase of 3,150.1% from the May 14th total of 3,818 shares. Approximately 3.4% of the shares of the company are short sold. Based on an average daily trading volume, of 38,501 shares, the days-to-cover ratio is currently 3.2 days.
India Internet ETF Stock Performance
India Internet ETF stock opened at $11.89 on Thursday. India Internet ETF has a 1 year low of $11.25 and a 1 year high of $16.67. The company has a market capitalization of $43.04 million, a price-to-earnings ratio of 57.79 and a beta of 0.68. The company’s 50 day simple moving average is $12.36 and its 200-day simple moving average is $13.36.
Institutional Investors Weigh In On India Internet ETF
A number of hedge funds have recently added to or reduced their stakes in INQQ. Evergreen Capital Management LLC raised its stake in India Internet ETF by 29.3% during the 4th 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 period. Ausdal Financial Partners Inc. lifted 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 buying an additional 3,205 shares during the period. Ameriprise Financial Inc. raised its position in India Internet ETF by 6.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 39,929 shares of the company’s stock valued at $663,000 after buying an additional 2,304 shares during the last quarter. Cetera Investment Advisers grew its stake in India Internet ETF by 15.7% in the fourth quarter. Cetera Investment Advisers now owns 69,212 shares of the company’s stock valued at $1,019,000 after purchasing an additional 9,415 shares in the last quarter. Finally, Jane Street Group LLC boosted its stake in India Internet ETF by 8.9% in the 4th quarter. Jane Street Group LLC now owns 132,202 shares of the company’s stock valued at $1,946,000 after purchasing an additional 10,798 shares during the period.
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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