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

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

First Trust India NIFTY 50 Equal Weight ETF Stock Performance

The stock’s fifty day moving average price is $53.12 and its 200-day moving average price is $55.71. The company has a market capitalization of $135.77 million, a P/E ratio of 24.33 and a beta of 0.45.

First Trust India NIFTY 50 Equal Weight ETF Cuts Dividend

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

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

Several institutional investors and hedge funds have recently modified their holdings of NFTY. OLD Mission Capital LLC increased its holdings in shares of First Trust India NIFTY 50 Equal Weight ETF by 977.1% in the fourth 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. Jane Street Group LLC increased its holdings in shares of First Trust India NIFTY 50 Equal Weight ETF by 348.1% in the second quarter. Jane Street Group LLC now owns 73,205 shares of the company’s stock valued at $4,390,000 after purchasing an additional 56,870 shares during the last quarter. Flow Traders U.S. LLC acquired a new position in shares of First Trust India NIFTY 50 Equal Weight ETF in the third quarter valued at $1,884,000. Susquehanna International Group LLP increased its holdings in shares of 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 valued at $2,276,000 after purchasing an additional 24,379 shares during the last quarter. Finally, Ameriprise Financial Inc. acquired a new position in shares of First Trust India NIFTY 50 Equal Weight ETF in the third quarter valued at $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.