Short Interest in First Trust India NIFTY 50 Equal Weight ETF (NASDAQ:NFTY) Drops By 59.1%

First Trust India NIFTY 50 Equal Weight ETF (NASDAQ:NFTY) was the recipient of a large drop in short interest in the month of April. As of April 30th, there was short interest totaling 11,611 shares, a drop of 59.1% from the April 15th total of 28,378 shares. Currently, 0.4% of the company’s stock are sold short. Based on an average daily trading volume, of 31,373 shares, the short-interest ratio is currently 0.4 days.

First Trust India NIFTY 50 Equal Weight ETF Stock Performance

NFTY stock traded down $0.30 during mid-day trading on Friday, hitting $52.91. 24,393 shares of the company were exchanged, compared to its average volume of 34,835. The firm has a market cap of $137.57 million, a P/E ratio of 24.33 and a beta of 0.46. The firm’s 50 day simple moving average is $53.21 and its 200 day simple moving average is $56.34. First Trust India NIFTY 50 Equal Weight ETF has a 1-year low of $49.62 and a 1-year high of $60.70.

First Trust India NIFTY 50 Equal Weight ETF Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Thursday, March 26th were given a dividend of $0.3053 per share. The ex-dividend date of this dividend was Thursday, March 26th. This represents a $1.22 dividend on an annualized basis and a yield of 2.3%.

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

Large investors have recently bought and sold shares of the company. Sound Income Strategies LLC acquired a new position in First Trust India NIFTY 50 Equal Weight ETF during the 4th quarter worth approximately $32,000. Arax Advisory Partners acquired a new position in First Trust India NIFTY 50 Equal Weight ETF during the 4th quarter worth approximately $52,000. Rockefeller Capital Management L.P. boosted its position in First Trust India NIFTY 50 Equal Weight ETF by 450.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 920 shares of the company’s stock worth $54,000 after acquiring an additional 753 shares during the last quarter. Hazlett Burt & Watson Inc. boosted its position in First Trust India NIFTY 50 Equal Weight ETF by 75.3% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 1,374 shares of the company’s stock worth $80,000 after acquiring an additional 590 shares during the last quarter. Finally, NewEdge Advisors LLC acquired a new position in First Trust India NIFTY 50 Equal Weight ETF during the 1st quarter worth approximately $127,000.

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.