First Trust India NIFTY 50 Equal Weight ETF $NFTY Shares Sold by Merit Financial Group LLC

Merit Financial Group LLC cut its position in shares of First Trust India NIFTY 50 Equal Weight ETF (NASDAQ:NFTY) by 42.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 14,755 shares of the company’s stock after selling 10,892 shares during the quarter. Merit Financial Group LLC owned 0.46% of First Trust India NIFTY 50 Equal Weight ETF worth $840,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of NFTY. NewEdge Advisors LLC acquired a new position in First Trust India NIFTY 50 Equal Weight ETF during the first quarter worth about $127,000. Envestnet Asset Management Inc. boosted its position in shares of First Trust India NIFTY 50 Equal Weight ETF by 83.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 26,031 shares of the company’s stock valued at $1,561,000 after purchasing an additional 11,820 shares in the last quarter. Tradewinds LLC. acquired a new position in shares of First Trust India NIFTY 50 Equal Weight ETF in the 2nd quarter worth approximately $1,945,000. Atlantic Union Bankshares Corp acquired a new position in shares of First Trust India NIFTY 50 Equal Weight ETF in the 2nd quarter worth approximately $399,000. Finally, Summit Investment Advisors Inc. raised its holdings in shares of First Trust India NIFTY 50 Equal Weight ETF by 8.0% in the 1st quarter. Summit Investment Advisors Inc. now owns 13,182 shares of the company’s stock worth $735,000 after purchasing an additional 974 shares in the last quarter.

First Trust India NIFTY 50 Equal Weight ETF Stock Performance

Shares of NASDAQ:NFTY opened at $58.40 on Thursday. The stock has a market capitalization of $166.44 million, a price-to-earnings ratio of 24.33 and a beta of 0.45. First Trust India NIFTY 50 Equal Weight ETF has a 1-year low of $51.57 and a 1-year high of $60.70. The company has a 50 day moving average price of $57.64 and a 200 day moving average price of $58.03.

First Trust India NIFTY 50 Equal Weight ETF Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Friday, December 12th were issued a $0.7212 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date was Friday, December 12th.

First Trust India NIFTY 50 Equal Weight ETF 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.