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 target 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 days-to-cover ratio is currently 0.4 days.

First Trust India NIFTY 50 Equal Weight ETF Stock Performance

Shares of NASDAQ:NFTY opened at $52.91 on Friday. The company has a market cap of $137.57 million, a P/E ratio of 24.33 and a beta of 0.46. First Trust India NIFTY 50 Equal Weight ETF has a one year low of $49.62 and a one year high of $60.70. The business’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 Cuts Dividend

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

Institutional Investors Weigh In On First Trust India NIFTY 50 Equal Weight ETF

Several hedge funds have recently modified their holdings of NFTY. NewEdge Advisors LLC purchased a new stake in shares of First Trust India NIFTY 50 Equal Weight ETF during the 1st quarter valued at about $127,000. Jane Street Group LLC grew its stake in First Trust India NIFTY 50 Equal Weight ETF by 348.1% during the 2nd 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 in the last quarter. Merkkuri Wealth Advisors LLC grew its stake in First Trust India NIFTY 50 Equal Weight ETF by 5.1% during the 3rd quarter. Merkkuri Wealth Advisors LLC now owns 34,074 shares of the company’s stock valued at $1,940,000 after purchasing an additional 1,640 shares in the last quarter. Crumly & Associates Inc. grew its stake in First Trust India NIFTY 50 Equal Weight ETF by 5.2% during the 3rd quarter. Crumly & Associates Inc. now owns 184,439 shares of the company’s stock valued at $10,498,000 after purchasing an additional 9,112 shares in the last quarter. Finally, Archer Investment Corp grew its stake in First Trust India NIFTY 50 Equal Weight ETF by 0.7% during the 3rd quarter. Archer Investment Corp now owns 144,516 shares of the company’s stock valued at $8,226,000 after purchasing an additional 1,041 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.