India Internet ETF (NYSEARCA:INQQ) Trading Down 1.5% – Here’s What Happened

India Internet ETF (NYSEARCA:INQQ) shares dropped 1.5% during mid-day trading on Tuesday . The company traded as low as $12.15 and last traded at $12.46. Approximately 41,035 shares changed hands during trading, an increase of 9% from the average daily volume of 37,669 shares. The stock had previously closed at $12.65.

India Internet ETF Price Performance

The firm has a market capitalization of $46.90 million, a price-to-earnings ratio of 57.79 and a beta of 0.60. The business’s 50-day moving average price is $13.92 and its 200 day moving average price is $15.17.

India Internet ETF Dividend Announcement

The firm also recently announced an annual dividend, which was paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 30th were given a dividend of $0.3283 per share. This represents a dividend yield of 223.0%. The ex-dividend date of this dividend was Tuesday, December 30th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Sheets Smith Wealth Management raised its position in shares of India Internet ETF by 3.2% in the 3rd quarter. Sheets Smith Wealth Management now owns 28,814 shares of the company’s stock valued at $449,000 after purchasing an additional 904 shares in the last quarter. Ausdal Financial Partners Inc. increased its stake in shares of India Internet ETF by 2.8% in the third quarter. Ausdal Financial Partners Inc. now owns 36,281 shares of the company’s stock worth $566,000 after buying an additional 992 shares during the last quarter. Osaic Holdings Inc. raised its holdings in India Internet ETF by 21.5% in the second quarter. Osaic Holdings Inc. now owns 6,382 shares of the company’s stock valued at $106,000 after acquiring an additional 1,130 shares in the last quarter. Prosperity Financial Group Inc. raised its holdings in India Internet ETF by 3.2% in the third quarter. Prosperity Financial Group Inc. now owns 39,388 shares of the company’s stock valued at $614,000 after acquiring an additional 1,211 shares in the last quarter. Finally, Smith Moore & CO. boosted its stake in India Internet ETF by 6.8% during the 2nd quarter. Smith Moore & CO. now owns 22,295 shares of the company’s stock valued at $370,000 after acquiring an additional 1,410 shares during the last quarter.

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.