First Trust India NIFTY 50 Equal Weight ETF (NASDAQ:NFTY) Sees Large Increase in Short Interest

First Trust India NIFTY 50 Equal Weight ETF (NASDAQ:NFTY) was the recipient of a significant growth in short interest in the month of October. As of October 15th, there was short interest totaling 3,300 shares, a growth of 43.5% from the September 30th total of 2,300 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average daily volume of 19,300 shares, the days-to-cover ratio is currently 0.2 days. Based on an average daily volume of 19,300 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.1% of the shares of the company are sold short.

First Trust India NIFTY 50 Equal Weight ETF Stock Up 0.4%

Shares of NFTY stock traded up $0.23 during trading hours on Monday, reaching $58.98. 24,153 shares of the company’s stock were exchanged, compared to its average volume of 28,729. First Trust India NIFTY 50 Equal Weight ETF has a fifty-two week low of $51.57 and a fifty-two week high of $61.00. The stock has a market capitalization of $188.74 million, a P/E ratio of 24.33 and a beta of 0.45. The business has a fifty day moving average price of $58.21 and a 200-day moving average price of $58.29.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. SBI Securities Co. Ltd. raised its stake in shares of First Trust India NIFTY 50 Equal Weight ETF by 4,518.2% in the first quarter. SBI Securities Co. Ltd. now owns 508 shares of the company’s stock valued at $28,000 after purchasing an additional 497 shares in the last quarter. Hazlett Burt & Watson Inc. raised its stake in shares of First Trust India NIFTY 50 Equal Weight ETF by 232.0% in the first quarter. Hazlett Burt & Watson Inc. now owns 664 shares of the company’s stock valued at $37,000 after purchasing an additional 464 shares in the last quarter. Ameritas Advisory Services LLC acquired a new position in shares of First Trust India NIFTY 50 Equal Weight ETF in the second quarter valued at $69,000. NewEdge Advisors LLC acquired a new position in shares of First Trust India NIFTY 50 Equal Weight ETF in the first quarter valued at $127,000. Finally, Coppell Advisory Solutions LLC raised its stake in shares of First Trust India NIFTY 50 Equal Weight ETF by 281.7% in the first quarter. Coppell Advisory Solutions LLC now owns 3,580 shares of the company’s stock valued at $207,000 after purchasing an additional 2,642 shares in the last quarter.

About First Trust India NIFTY 50 Equal Weight ETF

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.