First Trust India NIFTY 50 Equal Weight ETF (NASDAQ:NFTY) Stock Short Interest Jumps 95.2%

First Trust India NIFTY 50 Equal Weight ETF (NASDAQ:NFTY) saw a large growth in short interest in the month of September. As of September 30th, there was short interest totaling 49,332 shares, a growth of 95.2% from the September 15th total of 25,271 shares. Currently, 2.5% of the shares of the company are sold short. Based on an average daily volume of 23,199 shares, the days-to-cover ratio is currently 2.1 days.

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

Institutional investors have recently modified their holdings of the stock. Rockefeller Capital Management L.P. increased its position in shares of First Trust India NIFTY 50 Equal Weight ETF by 450.9% during the fourth quarter. Rockefeller Capital Management L.P. now owns 920 shares of the company’s stock worth $54,000 after purchasing an additional 753 shares in the last quarter. Gateway Wealth Partners LLC grew its stake in First Trust India NIFTY 50 Equal Weight ETF by 111.4% during the 1st quarter. Gateway Wealth Partners LLC now owns 8,576 shares of the company’s stock valued at $442,000 after purchasing an additional 4,519 shares in the last quarter. Pine Valley Investments Ltd Liability Co increased its stake in First Trust India NIFTY 50 Equal Weight ETF by 4.4% during the 1st quarter. Pine Valley Investments Ltd Liability Co now owns 20,053 shares of the company’s stock valued at $1,033,000 after buying an additional 850 shares during the period. Private Client Services LLC purchased a new stake in shares of First Trust India NIFTY 50 Equal Weight ETF during the 3rd quarter worth about $1,314,000. Finally, Merkkuri Wealth Advisors LLC increased its stake in First Trust India NIFTY 50 Equal Weight ETF by 2.6% during the first quarter. Merkkuri Wealth Advisors LLC now owns 35,391 shares of the company’s stock valued at $1,823,000 after acquiring an additional 896 shares during the period.

First Trust India NIFTY 50 Equal Weight ETF Stock Performance

Shares of NASDAQ:NFTY traded down $0.20 during midday trading on Friday, reaching $51.77. 5,379 shares of the company’s stock traded hands, compared to its average volume of 28,788. First Trust India NIFTY 50 Equal Weight ETF has a one year low of $49.25 and a one year high of $60.70. The company has a market cap of $100.96 million, a price-to-earnings ratio of 24.33 and a beta of 0.46. The stock has a 50 day moving average of $52.89 and a 200 day moving average of $53.27.

First Trust India NIFTY 50 Equal Weight ETF Company 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.